Wyler, Inc. had started retaining earnings of $110,000 on January 1, 2018. During the year, Wyler declared

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Question:

Wyler, Inc. had started retaining earnings of $110,000 on January 1, 2018. During the year, Wyler declared and paid $95,000 in cash dividends and generated a net income of $85,000. For the year ended December 31, 2018, Wyler, Inc. Prepare a retained earnings statement.

Enter increases in retained earnings before the subtotal and decreases in retained earnings below the subtotal.