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

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

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

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