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What is the retained earnings balance

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Reference no: EM132466049

A company's retained earnings on December 31, 2018 was $2,190,000 and its shareholders' equity was $8,760,000. During 2019 the company reported the following:

Net income $225,000

A sale of treasury stock costing $75,000 for $79,750

A treasury stock purchase costing $125,700

A cash dividend declaration of $73,200

A 10,000 share "small" common stock ($10 par value) dividend was declared and distributed when the market value was $12.75 per share.

What is the retained earnings balance on December 31, 2019?

Group of answer choices

$1,994,050

$2,219,050

$2,216,100

$2,246,550

Reference no: EM132466049

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