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3. On January 1, James Incorporated had a retained earnings balance of $135,000. Curing the year, James reported net income of $165,000. The company's retained

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3. On January 1, James Incorporated had a retained earnings balance of $135,000. Curing the year, James reported net income of $165,000. The company's retained earnings balance at its December 31 year-end was $189,000. Prepare a statement of retained earnings

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