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Compute the balance of retained earnings at december

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At December 31, 2018, Laurier Limited, had the following shareholders' equity:

Common shares, 75,000 issued $300,000

Retained earnings

During 2019, the following events occurred:

  1. On February 1, the company declared and paid a $0.50 cash dividend.
  2. On June 10, the company split the common shares two for one.
  3. On December 1, the company declared and paid a $0.40 cash dividend.
  4. At December 31, the company reported a loss of $106,000 for the year.

Problem 1: At December 31, 2019, the balance of retained earnings is

Reference no: EM132770405

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