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At the end of the financial year dividends of 2 per share

Question - XYZ had retained earnings worth $4,000,000 at the beginning of 1st January 2015. The company reported a net income of $ 1000,000. At the end of the financial year dividends of $2 per share was declared. What will be the retained earnings at the end of the year if 500,000 shares were declared for dividends?

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Accounting Basics: At the end of the financial year dividends of 2 per share

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