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Business, 01.07.2020 19:01 pravikumar02

Skysong Corporation has retained earnings of $691,300 at January 1, 2020. Net income during 2020 was $1,552,100, and cash dividends declared and paid during 2020 totaled $82,000. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $88,390 (net of tax) was charged to maintenance and repairs expense in 2019. (List items that increase retained earnings first.)

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Skysong Corporation has retained earnings of $691,300 at January 1, 2020. Net income during 2020 was...
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