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Prepare a retained earnings statement for 2012

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Vega Corporation has retained earnings of $5,130,000 on January 1, 2012. During the year, Vega earned $2,000,000 of net income. It declared and paid a $250,000 cash dividend. In 2012, Vega recorded an adjustment of $180,000 due to the understatement (from a mathematical error) of 2011 depreciation expense. Prepare a retained earnings statement for 2012.

Reference no: EM13513578

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