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Wirefree Corporation began 2021 with retained earnings of $290 million. Revenues during the year were $450 million, and expenses totaled $370 million. Wirefree declared dividends
Wirefree Corporation began 2021 with retained earnings of $290 million. Revenues during the year were $450 million, and expenses totaled $370 million. Wirefree declared dividends of $55 million. What was the company's ending balance of retained earnings? To answer this question, prepare Wirefree's statement of retained earnings for the year ended December 31, 2021, complete with its proper heading
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