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The information below relates to Shaban company for the year 2020: Net income Depreciation expenses understated in 2019 Effective tax rate Retained earnings as at

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The information below relates to Shaban company for the year 2020: Net income Depreciation expenses understated in 2019 Effective tax rate Retained earnings as at 31/12/2019 Dividends declared AED 201, 500 100,000 25% 1230,000 45,000 Required: Calculate the retained earnings for the year 2020

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