A company has 60.000 shares of $4 par value common stock and 10.000 shares of 5%. S100 par. cumulative preferred stock outstanding. The balance in Retained Earnings account at the beginning of the year was $300,000 and two year's dividends were in arrears at the beginning of the year. Net income for the current year was $400,000. The company paid preferred dividends and $1 per share on its common stock in the current year. What is the balance in Retained laming* account at the end of the year of this year? Pizza Pier retires its 7% bonds for $70,000 before their scheduled maturity. At the time, the bonds have a carrying value of $74,937. Record the early retirement of the bonds. Magic Mountain retires its 8% bonds for $125,000 before their scheduled maturity. At the time, the bonds have a carrying value of $118.000. Record the early retirement of the bonds