Bruni corporation began operations on January 1,2011 . During January, Bruni earned revenue of $ € 45,000 $, incurred expenses of $ € 22,000 $, and paid dividends of $ € 3,000 $. Retained earnings at the end the month is

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Retained earnings = Beginning retained earnings + Net income - DividendsBeginning retained earnings = 0Net income = Revenue - Expenses = €45,000 - €22,000 = €23,000Retained earnings = 0 + €23,000 - €3,000 = €20,000

Bruni Corporation Began Operations on January 1,2011 €45,000 € 45,000 €45,000

Bruni Corporation Began Operations on January 1,2011 $€ 45,000$