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At September 1 2019, Mast Corporation reported the following unadjusted amounts for its accounts, each of which is considered to be a normal account balance.

At September 1 2019, Mast Corporation reported the following unadjusted amounts for its accounts, each of which is considered to be a normal account balance.

Required: By using the Accounting Equation, determine the proper amount in Retained Earnings at September 1.

Accounts Payable

$12,000

Accounts Receivable

1,000

Cash

84,000

Common Stock Dividends

64,000 1,000

Equipment

60,000

Note Payable

36,000

Service Revenue

42,000

Retained Earnings

?

Utilities Expense

2,000

Salaries and Wages Expense

28,400

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