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QUESTION
Use the following equation and show how the Retained Earnings account has changed over the past two years.
Use the following equation and show how the Retained Earnings account has changed over the past two years.
Retained earnings, beginning balance
+ Prior period adjustments
= Retained earnings, adjusted balance
+ Net Income
- Retirement of Treasury stock
- Dividends
= Retained earnings, ending balance
https://www.sec.gov/Archives/edgar/data/104169/000010416918000028/wmtform10-kx1312018.htm#sDEA3FCA046495FB18629174636D12377
