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The balance in Retained Earnings on January 1, 2019 for Glored Corporation was $575,000. During...

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Accounting

The balance in Retained Earnings on January 1, 2019 for Glored Corporation was $575,000. During the year, the corporation paid Cash Dividends of $70,000 and distributed Stock Dividends of $15,000. Net income was $120,000. There is a legal restriction of $30,000. Prepare Retained Earnings Statement for 2019.

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