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What is the amount of retained earnings at december

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Reference no: EM132888790

At the beginning of 2018, Escudero Company had retained earnings of P100,000. During the year, Escudero reported net profit of P50,000; sold treasury shares at a gain of P18,000; declared cash dividends of P30,000; and declared and distributed a bonus issue of 1,500 shares (P10 par value, when the market price was P20 per share; outstanding shares were 15,000)

Problem 1: What is the amount of Retained Earnings at December 31, 2018.

Reference no: EM132888790

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