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Calculate the balance of retained earnings on december

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Reference no: EM131771248

Question - The income statement for Dodson Corporation reported net income of $22,400 for the year ended December 31 before considering the following:

  • During the year the company purchased available-for-sale securities.
  • At year end, the fair value of the investment portfolio was $2,100 more than cost.
  • The balance of Retained Earnings was $83,000 on January 1.
  • Dobson Corporation paid $9,000 in cash dividends during the year.

Calculate the balance of Retained Earnings on December 31.

Reference no: EM131771248

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