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Dayton Corporation began the current year with a retained earnings balance of $32,000. During the year, the company corrected an error made in the prior year, which was a failure to record a depreciation expense of $3,000 on equipment. Also, during the current year, the company earned net income of $12,000 and declared cash dividends of $7,000. Compute the year-end retained earnings balance.
Sociologists
Experts or scientists who study human societies and social behavior by examining the groups, cultures, organizations, social institutions, and processes that develop when people interact and work together.
Single Fathers
Male parents who are raising their children without the presence or involvement of the children's mother, due to various circumstances.
Single Mothers
Women who raise their children without the support of a partner, facing unique social, financial, and emotional challenges.
Incomes
The money received, especially on a regular basis, for work or through investments.
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