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In preparing the financial statements of Jackson Ltd you are provided with the following information: The opening balance of Retained earnings was $15,000; a transfer

In preparing the financial statements of Jackson Ltd you are provided with the following information: The opening balance of Retained earnings was $15,000; a transfer of $5 000 was made to a General reserve; Operating profit for the period was $32 500; a non-current asset was revalued upwards by $17 000. The closing balance of Retained earnings for Jackson Ltd is

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