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26) Lakeview Industries had sales of $40 million and net income of $2 million in 2012. Lakeview paid a dividend of $1.5 million. Assuming that their beginning balance for retained earnings was $4 million, calculate their ending balance for retained earnings.A) $4.5 millionB) $2.5 millionC) $3 millionD) $4 million*look at table 3.3 (pg 7)Regency Corporation Consolidated Balance Sheet As of December 31, 2011 + 2012

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