Sheffield Corp. began the year with retained earnings of $393000. During the year, the company...
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Accounting
Sheffield Corp. began the year with retained earnings of $393000. During the year, the company recorded revenues of $485000, expenses of $377000, and paid dividends of $38500. What was Sheffield's retained earnings balance at the end of the year?
$823500
$485000
$523500
$462500
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