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Upshaw Company Had a Balance of $160,000 in Retained Earnings

Question 173

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Upshaw Company had a balance of $160,000 in Retained Earnings on December 31,2013.During 2014,the company reported a net income of $84,000 after taxes,and dividends of $32,000 were paid.Prepare the company's statement of retained earnings for the year ended December 31,2014.

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