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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