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Mondial Corporation prepares financial statements in accordance with ASPE. At December 31, 2019, the company had retained earnings of $420,000. In 2020, net loss was

Mondial Corporation prepares financial statements in accordance with ASPE. At December 31, 2019, the company had retained earnings of $420,000. In 2020, net loss was $337,000, and cash dividends of $360,000 were declared but not paid.

Prepare a 2020 statement of retained earnings for Mondial Corporation.

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