Homework Answers
| Current balance of retained earnings | = | $ 2,06,000 | |
| Workings: | |||
| Total Income | = | $ 2,92,000 | |
| Less: | Total cash dividend paid | = | $ 55,000 |
| Less: | Total value of stock dividends distributed | = | $ 31,000 |
| Current balance of retained earnings | = | $ 2,06,000 |
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