Swifty Corporation started the year with $45600 in its Common Stock account and a credit balance in Retained Earnings of


Question:

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Swifty Corporation started the year with $45600 in its Common Stock account and a credit balance in Retained Earnings of $33400. During the year, the company earned net income of $36500 and declared and paid $15200 of dividends. In addition, the company sold additional common stock amounting to $21300. As a result, the amount of its retained earnings at the end of the year would be

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