Determine the retained earnings balance at december

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Reference no: EM132710936

Pullman Corporation had retained earnings of €2,100,000 at January 1, 2019. During the year the company experienced a net loss of €900,000 and declared cash dividends of €240,000. It was discovered in 2019 that €150,000 of repair expense was debited to the Land account in 2018. The income tax rate is 20%.

Problem 1: Determine the retained earnings balance at December 31, 2019.

Reference no: EM132710936

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