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Preparation of and income statement, balance sheet and a statement of retained earnings

1. An income statement for 2005
2. A statement of retained earnings for 2005 (using net income from part 1)
3. A balance sheet at 12/31/05 using the ending retained earnings from part 2.

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Solution Summary

1. An income statement for 2005
2. A statement of retained earnings for 2005 (using net income from part 1)
3. A balance sheet at 12/31/05 using the ending retained earnings from part 2.

$2.19