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Retained earnings - January 1, 2020.. ....... P1, 020, 000 P525,000 P 875,000 Net income for the year.. ..... .... .... .. 750,000 360,000 275,000

Retained earnings - January 1, 2020.. ....... P1, 020, 000 P525,000 P 875,000 Net income for the year.. ..... .... .... .. 750,000 360,000 275,000 Dividends paid......... ..up.. ( 500,00 0) (200,000) ...

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