Reference no: EM133187116
Question - On December 31, Year 4, the stockholders' equity section of Adler Co. was as follows:
Common stock, par value $10, authorized, 60,000 shares, issued and outstanding, 18,000 shares $180,000
Additional paid-in capital 232,000
Retained earnings 192,000
Total stockholders' equity $604,000
On March 31, Year 5, Adler declared a 10% stock dividend, and accordingly 1,800 additional shares were issued, when the fair market value of the stock was $16 per share. For the three months ended March 31, Year 5, Adler sustained a net loss of $64,000. Determine the balance of Adler's retained earnings as of March 31, Year 5?
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