Business, 12.02.2020 05:48 kingyogii

Sunland Corporation has retained earnings of $708,900 on January 1, 2020. Net income during 2020 was $1,663,000, and cash dividends declared and paid during 2020 totaled $77,800. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $89,470 (net of tax) was charged to maintenance and repairs expense in 2019. (List items that increase retained earnings first.)

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Sunland Corporation has retained earnings of $708,900 on January 1, 2020. Net income during 2020 was...