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At the beginning of 2018, Coronado Industries had retained earnings of $319000. During the year Coronado reported net in...

At the beginning of 2018, Coronado Industries had retained earnings of $319000. During the year Coronado reported net income of $75800, sold treasury stock at a “gain” of $26800, declared a cash dividend of $45100, and declared and issued a small stock dividend of 1410 shares ($10 par value) when the fair value of the stock was $31 per share. The amount of retained earnings available for dividends at the end of 2018 was: $37840. $327140. $305990. $352520.

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Answer #1
Correct option is: $305990
Workings:
Retained earnings, beginning balance = $       3,19,000
Net Income = $           75,800
Cash Dividend = $         -45,100
Stock dividend = $         -43,710
Retained earnings, ending balance = $       3,05,990
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