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Compute the amount of retained earnings

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Question - At the beginning of 2021, Bonita Industries had retained earnings of $409000. During the year Bonita reported net income of $100000, sold treasury stock at a "gain" of $35300, declared a cash dividend of $58100, and declared and issued a small stock dividend of 3060 shares ($10 par value) when the fair value of the stock was $18 per share. Compute the amount of retained earnings available for dividends at the end of 2021?

a. $455600.

b. $431120.

c. $395820.

d. $420300.

Reference no: EM132686360

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