DSI Inc. plans to raise additional capital for the expansion by selling 500,000 common shares at $16

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DSI Inc. plans to raise additional capital for the expansion by selling 500,000 common shares at $16 each. The existing shareholders' equity section of your balance sheet is shown below.

What will be the retained earnings figure immediately after the sale of the new shares?

common actions; $1

face value; authorized, 3,000,000

shares; issued and outstanding, 3,000,000

shares $ 3,000,000

Premium on placement of shares 6,500,000

Retained earnings 4,752,000

Total stockholders' equity $14,252,000

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Accounting Texts and Cases

ISBN: 978-1259097126

13th edition

Authors: Robert Anthony, David Hawkins, Kenneth Merchant

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Posted Date: Apr 10, 2023 05:32 AM

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DSI Inc. plans to raise additional capital for the expansion by selling 500,000 common shares at $16

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Accounting Texts and Cases

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