Prince Corporations accounts provided the following information at December 31, 2019: Total income since incorporation ..........................$840,000 Total

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Prince Corporation’s accounts provided the following information at December 31, 2019:
Total income since incorporation ..........................$840,000
Total cash dividends paid ........................................260,000
Total value of stock dividends distributed ...............60,000
Additional paid-in capital from treasury stock ......140,000

What should be the current balance of retained earnings?
a. $520,000
b. $580,000
c. $610,000
d. $670,000

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1337788281

3rd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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