Question

Asked Dec 12, 2019

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Step 1

Retained earnings of the company is that ratio of the net income which is used by the company to reinvest. Dividends are also paid out of net income and the difference in net income and retained earnings is the dividends paid.

Step 2

From the table below

Net Income is $309400

Retained earnings for Year 2021 = $217000

Retained earnings for Year 2022 = $241000

Step 3

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