The following information has been taken from the ledger accounts of Isaac Stern Corporation

E15-16 (Computation of Retained Earnings) The following information has been taken from the ledger accounts of Isaac Stern Corporation

Total income since incorporation $317,000
Total cash dividends paid 60,000
Total value of stock dividends distributed 30,000
Gains on treasury stock transactions 18,000
Unamortized discount on bonds payable 32,000

Instructions: Determine the current balance of retained earnings.


Click here for the solution: The following information has been taken from the ledger accounts of Isaac Stern Corporation