McDonald, Inc. had beginning retained earnings of $ 110,000 on January 1, 2014. During the year, McDonald
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McDonald, Inc. had beginning retained earnings of $ 110,000 on January 1, 2014. During the year, McDonald declared and paid $ 80,000 of cash dividends and earned $ 60,000 of net income. Prepare a statement of retained earnings for McDonald, Inc. for the year ending December 31, 2014.
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