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The following information was taken from the general ledger accounts of Headland Gas Corporation. Total income since incorporation $708,000 Total cash dividends paid 70,000 Total
The following information was taken from the general ledger accounts of Headland Gas Corporation.
| Total income since incorporation | $708,000 | |
| Total cash dividends paid | 70,000 | |
| Total value of stock dividends distributed | 112,000 | |
| Unamortized premium on bonds payable | 12,000 | |
| Loss on treasury stock transactions | 3,000 |
Determine the current balance of retained earnings.
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