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Calculate the ending balance in retained earnings

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Reference no: EM132975200

Problem - At the end of the year, the records of Cassidy Corporation provided the following selected and incomplete data:

Shares authorized: 400,000.

Shares issued: (all shares were issued at $25 per share; $4,250,000 total cash collected).

Treasury stock: 6,000 shares (repurchased at $30 per share).

Net income: $480,680.

Dividends declared and paid: $246,440.

Retained earnings beginning balance: $367,000.

Required - Based upon the information above:

1. Calculate the number of shares issued?

2. Calculate the number of shares outstanding?

3. Calculate the ending balance in retained earnings?

Reference no: EM132975200

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