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What is the net income for the current year

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Reference no: EM133123052

Question - Bulgasal Company provided the following data:

 

2020

2021

Share capital (P100 par value)

5,000,000

5,850,000

Share premium

1,000,000

1,600,000

Retained Earnings

3,400,000

4,500,000

During the current year, the entity declared and paid cash dividends or P1,000,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during the year. What is the net income for the current year?

Reference no: EM133123052

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