For the year ending December 31, 2020, Soto Inc. reports net income $170,000 and cash dividends $85,000.

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For the year ending December 31, 2020, Soto Inc. reports net income $170,000 and cash dividends $85,000. Determine the balance in retained earnings at December 31, assuming the balance in retained earnings on January 1, 2020, was $220,000.

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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Jun 28, 2019 07:17 AM

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For the year ending December 31, 2020, Soto Inc. reports net income $170,000 and cash dividends $85,000.

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Accounting Principles

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