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9) Grason Corporation is preparing a budgeted balance sheet for 2018. The retained earnings balance...

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Accounting

9)

Grason Corporation is preparing a budgeted balance sheet for 2018. The retained earnings balance at December 31, 2017 was $529,500. The 2015 budgeted income statement shows expected net income of $110,000. The company expects to declare dividends during 2018 amounting to $38,000. The expected balance in retained earnings on the 2018 budgeted balance sheet is:

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