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1 Retained Earnings, January 1, 2020: $20,000 Cash Dividends Declared: $5,000 Net Income: $120,000 Overstatement of income in prior period (before taxes): $36,000 Unrealized holding

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1 Retained Earnings, January 1, 2020: $20,000 Cash Dividends Declared: $5,000 Net Income: $120,000 Overstatement of income in prior period (before taxes): $36,000 Unrealized holding gain on available-for-sale securities (before taxes): 45,000 Tax Rate: 30% What is Comprehensive Income for the year ended December 31, 2020? Multiple Choice $175,000 $151,500 $137,000 $118.200

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