At the beginning of 2015, Sunland Company had retained earnings of $402000. During the year Sunland...
At the beginning of 2015, Sunland Company had retained earnings
of $402000. During the year Sunland reported net income of $109000,
sold treasury stock at a “gain” of $36400, declared a cash dividend
of $61000, and declared and issued a small stock dividend of 2890
shares ($10 par value) when the fair value of the stock was $20 per
share. The amount of retained earnings available for dividends at
the end of 2018 was
$457500.
$392200.
$421100.
$428600.
Homework Answers
| Beginning Retained earnings | 402000 | |
| Add: Net income | 109000 | |
| Less: Cash Dividends | -61000 | |
| Less: Stock Dividends | -57800 | =2890*20 |
| Amount of retained earnings at the end of 2018 | 392200 | |
| Option B $392200 is correct |
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