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The corporate charter of Alpaca Co. authorized the issuance of 10 million, $1 par common shares....

The corporate charter of Alpaca Co. authorized the issuance of 10 million, $1 par common shares. During 2020, its first year of operations, Alpaca had the following transactions: January 1 sold 8 million shares at $15 per share June 3 retired 2 million shares at $18 per share December 28 sold 2 million shares at $20 per share
if net income was $20 million for the year ended 2020 and dividends declared were $2 million. what amount should alpaca report as retained earnings, in its december 31,2020 balance sheet?
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