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Posted: August 6th, 2023

ACCT 310 310 When preparing the financial statements for the year ended December 31, 2015

When preparing the financial statements for the year ended December 31, 2015, the controller of XYZ Inc. discovered that the income tax expense for 2012 was understated by $33,000. The controller has also gathered the following information: Retained earnings at December 31, 2014 $447,800 Cash dividends declared during 2015 45,000 Stock dividends declared during 2015 100,000 Net income for the year ended December 31, 2015 166,120Prepare a statement of retained earnings for XYZ Inc. for the year ended December 31, 2015.

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