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If there were no other transactions during the year that

Question - Pfizer Inc., a pharmaceutical company, reported net income for fiscal 2013 of $22,003 million, retained earnings at the start of the year of $54,240 million and dividends of $6,511 million. If there were no other transactions during the year that affected retained earnings, what was the balance of retained earnings at the end of the year?

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Accounting Basics: If there were no other transactions during the year that

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