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please solve this Statement of retained earnings (L.0. 2, 3) Cary Corporation had an ending retained earnings balance on December 31,192, of $4.8 million. The

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Statement of retained earnings (L.0. 2, 3) Cary Corporation had an ending retained earnings balance on December 31,192, of $4.8 million. The following information pertains to 193 : a Cash dividends of $300,000 were declared and paid to common stockholders. b A 3% stock dividend was declared and distributed on December 31 . The stock's fair market value at the time of declaration was $20 per share; 150,000 shares were outstanding. c Income was $600,000 before tax. d An error was discovered on March 17 that occurred in 19XI and understated beforetax income of that year by $40,000. e Cary is subject to a 40% income tax rate. Prepare the corporation's 19X3 statement of retained earnings

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