My calculation is as follows:

200 (RE) + 100 (NI) - 60 (DivDeclared) - 60 (Small Stock Dividend of 3,000 @ $20 FMV) = 180. The key says 210, which is only possible if the shares were issued at par (a large stock dividend) from my understanding. Please show work and explain.

6. At the beginning of 2011, Toldo Company had retained earnings of $200,000. During the year Toldo reported net income of $100,000, sold treasury stock at a "gain" of $36,000, declared a cash dividend of $60,000, and declared and issued a small stock dividend of 3,000 shares ($10 par value) when the market value of the stock was $20 per share. The amount of retained earnings available for dividends at the end of 2011 was a. $180,000. b. $210,000. c. $216,000. d. $246,000. |1 |2 |3 |4 15 | 10 |11 12 |; |14 |15 116 17 118 119 120 |21 122 |