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For the year ending December 31, 2017, Soto Inc. reports net income $143,000 and dividends $88,000. Prepare the retained earnings statement for the year assuming

For the year ending December 31, 2017, Soto Inc. reports net income $143,000 and dividends $88,000.

Prepare the retained earnings statement for the year assuming the balance in retained earnings on January 1, 2017, was $218,000. (List items that increase retained earnings first.)

SOTO INC.

Retained Earnings Statement

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