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Henson company began the year with retained earnings of

Question - Henson Company began the year with retained earnings of $380,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000. What was Henson's retained earnings at the end of the year?

A. $460,000

B. $840,000

C. $540,000

D. $500,000

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Accounting Basics: Henson company began the year with retained earnings of

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