Three Brothers Fitness Center had beginning retained earnings of $170,000.During the year the company had net income of $50,000 and declared dividends of $66,000.The Company issued 500 shares of stock for $15 each during the year and repurchased 100 shares of treasury stock for $11 per share.Calculate the ending balance in retained earnings.

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The Answer of Three Brothers Fitness Center had beginning retained earnings of $170,000.During the year the company had net income of $50,000 and declared dividends of $66,000.The Company issued 500 shares of stock for $15 each during the year and repurchased 100 shares of treasury stock for $11 per share.Calculate the ending balance in retained earnings.

Three Brothers Fitness Center Had Beginning Retained Earnings of $170,000