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Exercise 14-09 Sunland Company reported retained earnings at December 31, 2019, of $312,500. Sunland had 210,000 shares of co

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Answer #1

Retained earnings at the end of 2020 = Beginning retained earnings + Net income - Cash dividend paid - Stock dividend

= $312500+282000 - 210000*0.50 - 210000*5%*15

= $332000

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