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Calculate the balance of the Retained Earnings account

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Q1. Assuming Transatlantic Corp. reports a net income of $350,000, and declares and pays preference dividends in the sum of $50,000 for 2010. Take the weighted-average number of the ordinary shares outstanding in 2010 to be 100,000 shares. What is Transatlantic Corp. Earnings Per Share (EPS).

Q2. In the books of Transatlantic Corp., as of January 1st, 2017 the retained earnings statement of account had a credit balance of $100,500. In the same year, the Company had a net income of $58,500 and paid dividends of about $32,000. Calculate the balance of the Retained Earnings (RE) account at 31st December 2017?

Reference no: EM132557456

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