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For the year ending December 31, 2020,SwiftyInc. reports net income $144,000and cash dividends $87,000. Determine the balance in retained earnings at December 31, assuming the

For the year ending December 31, 2020,SwiftyInc. reports net income $144,000and cash dividends $87,000.

Determine the balance in retained earnings at December 31, assuming the balance in retained earnings on January 1, 2020, was $222,000.

Balance in retained earnings$

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