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Wont Capital Corp declares a liquidating dividend on June 1, 2009 to common share owners...

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Accounting

Wont Capital Corp declares a liquidating dividend on June 1, 2009 to common share owners of record on June 30, 2009 in the amount of $100,000. Wont Capital states that $40,000 of the dividend is related to income, and the remaining $60,000 is a return of invested capital. By what amount does total retained earnings change as a result of the declaration the liquidating dividend?

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