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Business, 05.05.2020 20:44 duplessistoccara

Stockholders' equity of Ziyech Corporation as of January 1, 2020, is as follows: Common stock, $20 par; issued and outstanding 90,000 shares: $1,800,000 Paid-in capital – excess of par: $900,000 Retained earnings: $760,000 Ziyech had not repurchased shares before. During 2020, Ziyech entered into the following transactions: 1. Acquired 2,500 shares of its stock for $75,000. 2. Sold 2,000 treasury shares at $32 per share. 3. Sold the remaining treasury shares at $20 per share. Assuming no other equity transactions occurred during 2020, net income and dividends for the year were $33,000 and $6,000, respectively, what is retained earnings balance on December 31, 2020?

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Stockholders' equity of Ziyech Corporation as of January 1, 2020, is as follows: Common stock, $20 p...
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