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For the year ended December 31, 2017, Despacito, Inc. Corporation reported net income of US $ 170,000 and dividends of US $ 85,000. Instructions: Prepare
For the year ended December 31, 2017, Despacito, Inc. Corporation reported net income of US $ 170,000 and dividends of US $ 85,000. Instructions: Prepare the Statement of Retained Earnings for the year assuming that the balance in the Statement of Retained Earnings for January 1, 2017 was US $ 220,000. Prepare the Statement of Retained Earnings.
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