Marsh Corporation records show the following at December 31, 2003: Extraordinary loss (net of tax). Cash dividends

Marsh Corporation records show the following at December 31, 2003:

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Extraordinary loss (net of tax). Cash dividends declared during 2003 $(50,000) 30,000 14,000 Stock dividends issued during 2003 January 1, 2003, retained earnings balance. Prior-period adjustment (net of tax) Net income before extraordinary items and taxes (assume a 40% tax rate). Prepare a 2003 statement of retained earnings. 690,000 (36,000) 160,000