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How much is the contributed capital at year-end

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Question - The beginning balance of Shareholders' equity section of Venezuela Company:

No. of shares 50,000

Par value P10.00

Share capital P 500,000

Share premium 1,280,000

Retained earnings 1,800,500

Total Shareholders' equity P3,580.500

In 2021, Venezuela Company reported the following cash dividends:

1st quarter P 50,000

2nd quarter 150,000

3rd quarter 250,000

4th quarter 350,000

All cash dividends will be paid in the next quarter.

In December 2021, the entity also declared and subsequently issued share dividends of 15% when the market value per share is 25.80.

Net income for the year is P975,200.

Required - How much is the Contributed capital at year-end?

Reference no: EM133118338

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