INSTRUCTIONS FOR CAMyps Marigold Corp. reported retained eanings at December 31,

Question

INSTRUCTIONS FOR CAMyps Marigold Corp. reported retained eanings at December 31, 2018, of $300,500. traneactions ocourred during 2019 . A cash dividend of $0.35 pr share was dedlared and pad 2. 10% stock dividend was tared and adeb ted Marigold had 194,500 shares of common stock outstanding at the beginning of 2019. The folowng when the market price per share was $14 per share Net income was $282,000 Compde the ending balance in retained earnings at the end of 2019. (tht ews that inormase retained earnings first,) 0

Explanation / Answer

Marigold Corporation Retained Earnings Statement For the Year Ended December 31, 2019 Beginning balance $300,500 Add: Net Income $282,000 $582,500 Less: Cash Dividend (194,500 shares x $.35 $68,075 Stock Dividend (194,500 x 10% x $14) $272,300 -$340,375 Ending Balance $242,125

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