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Calculate for beginning and ending retained earnings

    Assignment Instructions

    Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending retained earnings to answer the rest of the questions. Use a minus sign or parentheses for any net loss.
    Assets        LiabilitiesBeginning of Year: $26,000        $19,000End of Year: $62,000               $26,000
    Question 1) What is the retained earnings at the beginning of the year?
    Question 2) What is the retained earnings at the end of the year?

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