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What the amount of share premium reported on the december

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Question - Oxford Inc. was authorized to issue 200,000 £10 par value ordinary shares. As of December 31, 2020, the company had issued 88,000 shares at an average price of £22 per share. During 2020, the company felt that the shares were undervalued so it purchased 20,000 treasury shares at £18 per share. When the share price rebounded later in the year, the company sold 8,000 of the treasury shares for £25. Retained earnings was £3,316,000 at December 31, 2020. What the amount of Share Premium reported on the December 31, 2020 statement of financial position?

Reference no: EM133102455

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