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Determine the balance in retained earnings at December

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Reference no: EM132734149

Question - For the year ending December 31, 2020, Swifty Inc. reports net income $144,000 and cash dividends $87,000.

Determine the balance in retained earnings at December 31, assuming the balance in retained earnings on January 1, 2020, was $222,000.

Reference no: EM132734149

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