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Calculate the ending balance of retained earnings

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Reference no: EM132746164

Question - On April 30, 2020, NOP Corporation's shareholders' equity section shows the following balances.

NOP Corporation Balance Sheet (partial) As at April 30, 2020

Shareholders' Equity Contributed Capital Common shares, unlimited shares authorized, 28,000 shares issued and outstanding  $112,000

Retained Earnings $690,000

Total Shareholders' Equity $802,000

Do not enter dollar signs or commas in the input boxes.

Scenario - On April 30, 2020, after preparing the shareholders' equity section shown above, the company declared and immediately distributed a 90% stock dividend. The market price on the date of declaration was $14. The company recorded the stock dividends by debiting retained earnings.

Required - Calculate the ending balance of retained earnings after the stock dividend.

Reference no: EM132746164

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