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Find the retained earnings balance

Problem: A company has the following information:

2007 retained earnings balance of $12 billion
Net income of $3.5 billion in 2008
Capex of $200 million in 2008
Preferred dividends of $100 million in 2008
Common dividends of $400 million in 2008

What is the retained earnings balance at the end of 2008?

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Finance Basics: Find the retained earnings balance

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Finance Basics: Find the retained earnings balance

Reference No:- TGS02069613

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