After closing on December 31, 2010, Direct Delivery Company (DDC) had $9,200 of assets, $4,000 of liabilities,
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a. Determine the balance in the Retained Earnings account as of December 31, 2010.
b. Determine the balance in the Retained Earnings account as of January 1, 2011.
c. Determine the balance in the Retained Earnings account as of January 31, 2011.
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