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13-09-2022
Business

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tack, inc. reported a retained earnings balance of $150,000 at december 31, year 1. in june, year 2, tack discovered that merchandise costing $40,000 had not been included in inventory in its year 1 financial statements. tack has a 30% tax rate. what amount should tack report as adjusted beginning retained earnings in its statement of retained earnings at december 31, year 2?

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