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The Retained Earnings balance of Mantua Company was $128,700 on January 1, 2018. Net Income for 2018 was $72,820. For the fiscal year of 2018
The Retained Earnings balance of Mantua Company was $128,700 on January 1, 2018.
Net Income for 2018 was $72,820. For the fiscal year of 2018 there is no stock dividends nor property dividends declared. If Retained Earnings had a credit balance of $57,750 after closing entries were posted on December 31, 2018, and if additional stock of $35,750 was issued during the year, dividends declared during 2018 were:
a. $106,700
b. $143,770
c. $179,520
d. $158,125
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