Ursula Company declared dividends of $20,000 in fiscal 2021 and paid the $42,000 dividends that...
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Accounting
Ursula Company declared dividends of $20,000 in fiscal 2021 and paid the $42,000 dividends that were declared in fiscal 2020. Ursula paid the 2021 dividends in early fiscal 2022. How much dividends should the company report in the statement of retained earnings in 2021?
$20,000
$62,000
$0
$42,000
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