For the year ending December 31, 2019, Soto Inc. reports net income $170,000 and cash dividends $85,000.

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For the year ending December 31, 2019, Soto Inc. reports net income $170,000 and cash dividends $85,000. Determine the balance in retained earnings at December 31 assuming the balance in retained earnings on January 1, 2019, was $220,000.

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Financial Accounting

ISBN: 978-1119305736

10th edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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Question Posted: Mar 29, 2017 11:51 AM

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For the year ending December 31, 2019, Soto Inc. reports net income $170,000 and cash dividends $85,000.

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Financial Accounting

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