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30-05-2024
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The balances in Oriole Inc.'s shareholders' equity accounts at December 31, 2023 are: Common shares, no par, 52500 authorized, 42000 outstanding $1386000 Retained earnings (deficit) (366000) At this time, a financial reorganization as approved. Equipment was written down $100300, and inventory increased $5500. As the first step of the reorganization, how much should the common shares account be adjusted by?

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