The balance of Arndt’s retained earnings as of March 31, 2020, should be
On December 31, 2019, the
Ordinary shares, par value P10; authorized 30,000 shares; issued and outstanding 9,000 shares P 90,000
Shares Premium 116,000
Total stockholders' equity P360,000
On March 31, 2020, Arndt declared a 10% share dividend, and accordingly 900 additional shares were issued, when the fair value of the shares was P18 per share. For the three months ended March 31, 2020, Arndt sustained a net loss of P32,000. The balance of Arndt’s retained earnings as of March 31, 2020, should be
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