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Use the following to answer questions 20-22 Determine ending retained earnings for years 1, 2...

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Use the following to answer questions 20-22 Determine ending retained earnings for years 1, 2 and 3. At the beginning of year 1, the retained earnings had a So balance Year Net Income Dividends Retained Earnings 1 $125,000 $25,000 20. 2 195,000 75,000 21. 3 222,000 142,000 22

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