iPlace, Inc., was set to report the following statement of retained earnings for the year ended…

 
   

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iPlace, Inc., was set to report the following statement of retained earnings for the year ended December 31, 2010: iPlace, Inc. Statement of Retained Earnings Year Ended December 31, 2010 Retained earnings, December 31, 2009…………….. $ 71,000 Net income for 2010……………………………………… 97,000 Dividends for 2010……………………………………….. (26,000) Retained earnings, December 31, 2010…………….. $142,000