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Retained Earnings

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Mirrlees Furniture earned $500,000 last year and had a 40 percent payout ratio. How much did the firm add to its retained earnings?

A. $200,000
B. $300,000
C. There is not enough information to tell.
D. None of these.

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Solution Summary

Analyzes payout ratio to calculate retained earnings.

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Mirrlees Furniture earned $500,000 last year and had a 40 percent payout ratio. How much ...

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