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The following information pertains to Rudolph Corp. for the year ended September 30, 2022. Net Income P 75,000 Retained Earnings, October 1, 2021 860,000 Cash

The following information pertains to Rudolph Corp. for the year ended September 30, 2022.

Net Income P 75,000

Retained Earnings, October 1, 2021 860,000

Cash dividends declared 16,400

A 2 for 1 split was declared, value of Ordinary Share Capital 200,000

Understatement of depreciation expense of 2018 and 2019-pretax 62,000

Tax rate 30%

Compute for the retained earnings balance on September 30, 2022.

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