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Jolly Roger Inc. had the following account balances on December 3 1 . Prepare the Statement of Retained Earnings and the stockholder's equity section of

Jolly Roger Inc. had the following account balances on December

31 .

Prepare the Statement of Retained Earnings and the stockholder's equity section of the balance sheet

assuming Jolly Roger paid $

50, 000

in dividends and earned $

193, 000

in net income during the year.

Jolly Roger

Statement of Retained Earnings

For the Year Ended December

31

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