Messer Company_statement of retained earnings

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Description

Messer Company had
retained earnings at the beginning of the current year of $590,000. During the
year, the following activities occurred:

* Net income of $88,000 was earned
* A cash dividend of $1.20 per share was
declared and distributed on the 50,000 shares of common stock outstanding

Prepare a statement of retained earnings for the
year.

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