3. 3.000.000 1.000.000 8.000.000 Katrina Company reported the following shareholders equity at the beginning of current year: Share capital, 250,000 shares authorized, P30 par 100.000 shares issued and outstanding Share premium Retained earning The board of directors declared a 10% share dividend on April 1 when the market value of the share was P70. The share dividend was issued on July 1 when the market value of the share was P100. The entity sustained a net loss of P1,200,000 for the current year What amount should be reported as retained earnings at year-end? 6,100,000 b. 6,500,000 6,800,000