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What moorman should report retained earnings

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Reference no: EM132809748

Moorman Corporation reports the following information:

Correction of understatement of depreciation expense in prior years, net of tax $ 430,000

Dividends declared 320,000

Net income 1,000,000

Retained earnings, 1/1/10, as reported 2,000,000

Problem 1: Moorman should report retained earnings, 31/12/10, as adjusted at

Select one:

a. $3,110,000

b. $2,250,000

c. $3,430,000

d. $1,820,000

Reference no: EM132809748

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