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Prepare a statement of retained earnings for the year ended Decen period. SIERRA COMPANY Statement of Retained Earnings Retained earnings. December 31 prior year end

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Prepare a statement of retained earnings for the year ended Decen period. SIERRA COMPANY Statement of Retained Earnings Retained earnings. December 31 prior year end Add: Net income 11,500 28,300 Less: Dividends 39,800 4,000 Retained earings, December 31 current year end $ 35,800

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