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Ursula Company declared dividends of $20,000 in fiscal 2017 and paid the $42,000 dividends that were declared in fiscal 2016. Ursula paid the 2017 dividends

Ursula Company declared dividends of $20,000 in fiscal 2017 and paid the $42,000 dividends that were declared in fiscal 2016. Ursula paid the 2017 dividends in early fiscal 2018. How many dividends should the company report in the statement of retained earnings in 2017?





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