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.. STAY HOME-du 8:06 PM mylms.ajman.ac.ae @ 11% D4 On January 1, 2020, Eddy Industries had retained earnings of 650,000. During the year, Eddy had

.. STAY HOME-du 8:06 PM mylms.ajman.ac.ae @ 11% D4 On January 1, 2020, Eddy Industries had retained earnings of 650,000. During the year, Eddy had the following selected transactions. Prepare a retained earnings statement. 1. Declared cash dividends 120,000. 2. Corrected overstatement of 2019 net income because of inventory error 40,000. 3. Earned net income 350,000. 4. Declared share dividends 90,000. Instructions Prepare a retained earnings statement for the year

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