The following selected information is taken from the work sheet for Warton Company at its December 31

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The following selected information is taken from the work sheet for Warton Company at its December 31 year-end. Determine the amount for Retained Earnings that should be reported on its current December 31 year-end balance sheet.

Retained Earnings Dividends Totals Income Statement Dr. Cr. 120,000 180,000 Balance Sheet Dr. Cr. 72,000

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