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Given are the amounts of assets, liabilities, owner's equity, revenues, and expenses of AQUA Inc. at 12/31/10. The beginning amount of Retained Earnings at 1/1/10 was $20,000, and during the year Dividends of $60,000 were taken out by the owners of Aqua Inc. Prepare the yearend Balance Sheet and Income Statement for AQUA LLP at the end of the year.
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