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BALANCE SHEET 1. Capital Stock - found in your instructions in your beginning (December 31) balance sheet - $500,000. 2. Retained earnings BEGINNING- $109,000).Beginning retained

BALANCE SHEET

1. Capital Stock - found in your instructions in your beginning (December 31) balance sheet - $500,000.

2. Retained earnings BEGINNING- $109,000).Beginning retained earnings is used in the calculation of ENDING retained earnings.Ending retained earnings is used on your balance sheet.

Check figure for total assets is $852,320.

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