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For the year ending December 31, 2020, Sunland Inc. reports net income $137,000 and cash dividends $83,500. Determine the balance in retained earnings at December

For the year ending December 31, 2020, Sunland Inc. reports net income $137,000 and cash dividends $83,500. Determine the balance in retained earnings at December 31, assuming the balance in retained earnings on January 1, 2020, was $218,500. Balance in retained earnings $______

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