Reference no: EM132766735
On December 31, 2019, the stockholders' equity section of Arndt, Inc., was as follows:
Ordinary shares, par value P10; authorized 30,000 shares; issued and outstanding 9,000 shares P 90,000
Shares Premium 116,000
Retained earnings 154,000
Total stockholders' equity P360,000
Problem 1: On March 31, 2020, Arndt declared a 10% share dividend, and accordingly 900 additional shares were issued, when the fair value of the shares was P18 per share. For the three months ended March 31, 2020, Arndt sustained a net loss of P32,000. The balance of Arndt's retained earnings as of March 31, 2020, should be
a. 122,000.
b. 114,800.
c. 113,000.
d. 105,800.
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