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Brief Exercise 14-05 For the year ending December 31, 2020, Vaughn Inc. reports net income $152,000 and cash dividends $91,000. Determine the balance in retained

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Brief Exercise 14-05 For the year ending December 31, 2020, Vaughn Inc. reports net income $152,000 and cash dividends $91,000. Determine the balance in retained earnings at December 31, assuming the balance in retained earnings on January 1, 2020, was $226,000. Balance in retained earnings

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