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For the year ending December 31, 2022, Soto Inc. reports net income $170,000 and cash dividends $85,000. Determine the balance in retained earnings at

For the year ending December 31, 2022, Soto Inc. reports net income $170,000 and cash dividends $85,000. Determine the balance in retained earnings at December 31-assuming the balance in retained earnings on January 1, 2022, was $220,000. (List items that increase retained earnings first.) Soto Inc. Retained Earnings Statement

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