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Wireless Corporation began 2021 with retained earnings of $290 million. Revenues during the year were $480 and expenses totaled $360 million. Wireless declared dividends of
Wireless Corporation began 2021 with retained earnings of $290 million. Revenues during the year were $480 and expenses totaled $360 million. Wireless declared dividends of $60 million. What was the company's ending balance of retained earnings? To answer this question, prepare Wireless's statement of retained earnings for the year ended December 31, 2021, complete with its proper heading. Prepare the statement of retained earnings. (Enter all amounts in millions. Enter a net loss with a minus sign or parentheses. Include a subtotal after the "Add" line of the statement.) Add: Subtotal Less: (millions)
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