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Eau claire paper mill inc had at the beginning of the

Eau Claire Paper Mill, Inc., had, at the beginning of the current fiscal year, April 1, 2010, retained earnings of $323,325. During the year ended March 31, 2011, the company produced net income after taxes of $713,445 and paid out 45 percent of its net income as dividends. Construct a statement of retained earnings and compute the year-end balance of retained earnings.

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Accounting Basics: Eau claire paper mill inc had at the beginning of the

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