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Wilmington Fisheries Had a Retained Profits Account Balance on 1

question 51

Multiple Choice

Wilmington Fisheries had a Retained Profits account balance on 1 January of $12 000. During the year, the firm had net profit of $7200 and paid a $3600 cash dividend. What is the balance in Retained Profits at the end of the financial year on 31 December?

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