In the first three years of operations, Lindsey Corporation earned net income/loss of -$150,000, $100,000, and $250,000. At the end of the third year, Lindsey Corporation has a balance of $120,000 for its Retained Earnings account. What is the total amount of dividends Lindsey Corporation paid over the three years?

Question

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Beginning Retained Earnings ($0) + Net Income/Loss (-$150,000 + $100,000 + $250,000) - Ending Retained Earning ($120,000) = Dividends ($80,000).

In the First Three Years of Operations, Lindsey Corporation Earned