A corporation reported net income of $240,000 for its fiscal year and declared and paid cash dividends of $96,000. A stock dividend recorded at $36,000 was also distributed during the year. If the ending balance of the Retained Earnings account was $325,000, calculate the beginning balance in the Retained Earnings account.

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The Answer of A corporation reported net income of $240,000 for its fiscal year and declared and paid cash dividends of $96,000. A stock dividend recorded at $36,000 was also distributed during the year. If the ending balance of the Retained Earnings account was $325,000, calculate the beginning balance in the Retained Earnings account.

A Corporation Reported Net Income of $240,000 for Its Fiscal