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Statement of Retained Earnings: Use the following data to prepare a statement of retained earnings for Shepler Corporation. Total retained earnings originially reported at Janurary

Statement of Retained Earnings: Use the following data to prepare a statement of retained earnings for Shepler Corporation.

Total retained earnings originially reported at Janurary 1...... $350,000

Cash dividends declared during the year...............................$75,000

Net income for the year..........................................................$193,000

Stock dividend declared during the year................................$40,000

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