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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
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  Retained earnings balance at the beginning of the year | $ 166,000 |
  Cash dividends declared for the year | 56,000 |
  Proceeds from the sale of equipment | 91,000 |
  Gain on the sale of equipment | 9,000 |
  Cash dividends payable at the beginning of the year | 28,000 |
  Cash dividends payable at the end of the year | 52,000 |
  Net income for the year | 102,000 |
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What is the ending balance for retained earnings? |
 | $296,000. |
 | $194,000. |
 | $268,000. |
 | $272,000. |
 | $212,000. |
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