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What should be the correct balance of retained earnings

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Reference no: EM133149571

Question - In analyzing the shareholders' equity section of the Cebu Trading Company, the following information was abstracted from the accounts of December 31:

Total income since incorporation P630,000

Total cash dividend paid 195,000

Proceeds from sale of donated stock 67,000

Total fair value of 10% share dividends distributed 45,000

Excess of proceeds Over cost of treasury stock sold 105,000

Required - What should be the correct balance of retained earnings?

Reference no: EM133149571

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