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please help me out!!! thumbs up in advance!!! AE4-11 (Retained Earnings Statement) McEntire Corporation began operations on January 1, 2009. During its first years of
please help me out!!! thumbs up in advance!!!
AE4-11 (Retained Earnings Statement) McEntire Corporation began operations on January 1, 2009. During its first years of operations, McEntire reported net income and declared dividends as follows Net Income Dividends declared 2009 51,000 $0 2010 (14,000) 0 2011 199,000 59,700 The following formation relates to 2012 Income before income tax Prior period adjustment understatement of 2010 depreciation expense (before taxes) Dividends declared (of this amount, $25,000 will be paid on Jan 15, 2013) Effective tax rate $145,600 $25.800 $50.000 34% Prepare a 2012 retained earnings statement for McEntire Corporation dtv A G Search or type URL A R 5 6 7 8 Step by Step Solution
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