at the 1St January 2019, the amount of Retained earnings reported by Moon Corporation is $2,500,000. During 2019, Moon Corporation issued

common stocks of $750,000, declared and paid cash dividends of $140,000, and declared share dividends of $320,000. The amount of net

income of 2019 reported by Moon Corporation is $1,000,000. Moon Corporation was required to make a correction of understatement of

depreciation expenses in prior years of $430,000 (net of tax).

Required:

How much was the retained earnings reported on 31St December, 2019? (Show your calculations).

3.5 points At the 1st January 2019, the amount of Retained earnings reported by Moon Corporation is $2,500,000. During 2019, Moon Corporation issued common stocks of $750,000, declared and paid cash dividends of $140,000, and declared share dividends of $320,000. The amount of net income of 2019 reported by Moon Corporation is $1,000,000. Moon Corporation was required to make a correction of understatement of depreciation expenses in prior years of $430,000 (net of tax). Required: How much was the retained earnings reported on 31st December, 2019? (Show your calculations). For the toolbar