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Business, 07.06.2020 01:01 marialegarda4211

Wildhorse Corporation has retained earnings of $677,000 at January 1, 2020. Net income during 2020 was $1,510,000, and cash dividends declared and paid during 2020 totaled $82,000. In addition, an error was discovered: land costing $87,000 (net of tax) was charged to maintenance and repairs expense in 2019. Determine the ending retained earnings balance for the year ended December 31, 2020.

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Wildhorse Corporation has retained earnings of $677,000 at January 1, 2020. Net income during 2020 w...
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