Refer to Exercise 20-29. Assume that the detailed information for 2009 and 2010 is not available. During

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Refer to Exercise 20-29. Assume that the detailed information for 2009 and 2010 is not available. During 2011, dividends of $20,000 were paid (compared to dividends of $16,500 in both 2009 and 2010). Based on this information, prepare the retained earnings statement for 2011. Note: Do NOT prepare the comparative retained earnings statements for 2009 and 2010. The December 31, 2010, Retained Earnings balance as reported using LIFO was $290,000.

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Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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