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Determine the balance in retained earnings at december

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Reference no: EM132794177

Problem 1: For the year ending December 31, 2019, Soto Inc. reports net income $170,000 and cash dividends $85,000. Determine the balance in retained earnings at December 31 assuming the balance in retained earnings on January 1, 2019, was $220,000.

Reference no: EM132794177

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