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Calculating Ending Retained Earnings

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At the beginning of the quarter, a company had a retained earnings balance of $10,000. During the quarter, the company reported a net income of $13,000, and the owner withdrew $3,000. No dividends were declared or paid. What is the balance of the retained earnings account at the end of the quarter?
A

$20,000

B

$6,000

C

$26,000

D

$0

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