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Question
hutchinson company had retained earnings of $10,000 on the balance sheet but disclosed in the footnotes that $2,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. cash of $2,000 had been set aside for the plant expansion. how much of retained earnings is available for dividends?
a.$7,000
b.$8,000
c.$10,000
d.$5,000
Answer
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