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Prepare a statement of retained earnings for the year

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Question - For the year ended December 31, 2021, Cinrich Farms Limited, a private company, reported net income of $400,520. The company declared dividends of $142,600 and paid $49,600 of these dividends during the year. Prepare a statement of retained earnings for the year, assuming the balance in Retained Earnings on January 1, 2021, was $632,400.

Reference no: EM133007100

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