Question
At the beginning of 2019, Rizen Corp. had retained earnings of $409000. During the year Rizen...
At the beginning of 2019, Rizen Corp. had retained earnings of
$409000. During the year Rizen reported net income of $104000, sold
treasury stock at a “gain” of $35000, declared a cash dividend of
$59300, and declared and issued a small stock dividend of 3190
shares ($10 par value) when the fair value of the stock was $19 per
share. The amount of retained earnings available for dividends at
the end of 2019 was
a.) $421800.
b.) $428090.
c.) $456800.
d.) $393090.
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