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how do I do this? Blossom Corporation began operations on January 1, 2017. During its first 3 years of operations, Blossom reported net income and
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Blossom Corporation began operations on January 1, 2017. During its first 3 years of operations, Blossom reported net income and declared dividends as follows: Dividends declared 2017 2018 Net income $43,300 127,900 165,300 $-0- 52,400 51.100 2019 The following information relates to 2020. Income before income tax Prior period adjustment: understatement of 2018 depreciation expense (before taxes) Cumulative decrease in income from change in inventory methods (before taxes) Dividends declared (of this amount. $25,900 will be paid on Jan. 15, 2021) Effective tax rate $227.400 $25.900 $41.100 $103,500 20 % Prepare a 2020 retained earnings statement for Blossom Corporation. (List items that increase adjusted retained earnings first.) BLOSSOM CORPORATION Retained Earnings Statement $
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