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Paquin Company Has the Following Information Available for the Most

question 43

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Paquin Company has the following information available for the most current year:
Paid-in capital, January 1, 2014 $475,000Retained earnings, January 1, 2014 $50,000Total revenues in 2014 $890,000 Total expenses in 2014$550,000 Dividend declared in 2014$70,000\begin{array} { l } \text {Paid-in capital, January 1, 2014 }&\$475,000\\ \text {Retained earnings, January 1, 2014 }&\$50,000 \\ \text {Total revenues in 2014 }&\$890,000 \\ \text { Total expenses in 2014}&\$550,000 \\ \text { Dividend declared in 2014}&\$70,000 \\\end{array}

What was the balance in Retained Earnings at December 31,2014?

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