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ANSWER ASAP Diamond Inc. had the following equity accounts on January 1, 20x3: Common shares (237,969 issued) $825,000 Retained Earnings $923,331 During the year 203,
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Diamond Inc. had the following equity accounts on January 1, 20x3: Common shares (237,969 issued) $825,000 Retained Earnings $923,331 During the year 203, Diamond Inc. had the following equity transactions: Feb. 2nd Issued 10,650 common shares for $30,000. June 30 th Effected a 2-for-1 stock split. Aug. 15 th Declared a $1.79 cash dividend per share to shareholders of record August 15 th, payable January 15 th, 204. Dec. 31st Annual net income of $491,065. What is Diamond Inc.'s retained earnings balance on December 31,203 (round to the nearest whole dollar) Step by Step Solution
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