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Skysong, Inc. started the year with $49200 in its Common Stock account and a credit balance in Retained Earnings of $36100. During the year, the company earned net income of $39400 and declared and paid $16400 of dividends. In addition, the company sold additional common stock amounting to $23000. As a result, the amount of its retained earnings at the end of the year would be$131200.$59100.$108200.$82000.
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