Question: Presented below is information which relates to Oriole Ltd., a Canadian private company. Net loss $ 119,000 Retained earnings, January 1, 2020 332,000 Cash dividends

Presented below is information which relates to Oriole Ltd., a Canadian private company.

Net loss $ 119,000

Retained earnings, January 1, 2020 332,000

Cash dividends declared on common shares 51,000

Understatement of net income resulting from 2019 inventory error (pre-tax) 84,000

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