14. Kaiser Company provided the following data for the current year: Retained earnings - unappropriated, January 1 2,000,000 Overdepreciation of prior year net of tax 400,000 Retained earnings appropriated for treasury shares 4,000,000 (original balance is P500,000 reduced by P200,000 by reason of reissuance) 300,000 Retained earnings appropriated for contingencies (beginning balance, P700,000 increased by current appropriation of P100,000) 800,000 Cash dividends paid to shareholders 1,000,000 Change in accounting policy from FIFO to weighted average method - debit adjustment net of tax 300,000 What amount should be reported as unappropriated retained earnings on December 31? a. 6,000,000 b. 5,200,000 c. 5,100,000 d. 4,800,000 15. Elvis Company reported the following shareholders' equity on January 1, 2020: Share capital, P5 par, 200,000 shares outstanding 1,000,000 Share premium 6,000,000 Retained earnings 2,800,000 - During the current year, the following chronological transactions affected shareholders' equity: * Reacquired 10,000 shares at P30 per share to be held as treasury. Declared and issued a 30% share dividend. Declared and paid cash dividend of P10 per share. Net income for 2020 amounted to P3,000,000 What amount should be reported as unappropriated retained earnings on December 31, 2020? a. 2,745,000 b. 3,045,000 c. 2,700,000 d. 2,600,000