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Prepare retained earnings statement for Marigold Company

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Question - At January 1, 2017, Marigold Company reported retained earnings of $2,088,000. In 2017, Marigold discovered that 2016 depreciation expense was understated by $435,000. In 2017, net income was $958,000 and dividends declared were $233,000. The tax rate is 40%. Prepare 2017 retained earnings statement for Marigold Company.

Reference no: EM132543562

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