Windsor Corporation has retained earnings of $702,400 at January 1, 2020. Net income during 2020 was $1,526,800, and cash dividends declared and paid during 2020 totaled $81,000. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $88,430 (net of tax) was charged to maintenance and repairs expense in 2019. Prepare a retained earnings statement for the years ended december 31, 2020
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Windsor Corporation has retained earnings of $702,400 at January 1, 2020. Net income during 2020 was...
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