Question: Please show work on how you got the answer. Thank you! poau 5. The following selected amounts are available for Sanders Company. Retained earnings (beginning)

Please show work on how you got the answer. Thank you!

poau 5. The following selected amounts are available for Sanders Company. Retained earnings (beginning) Net Income Cash dividends declared $2.000 500 300 What is its ending retained earnings balance? A) $1,200 B) $2,500 C) $1,800 D) $2,200 Problem 1 On October 1, Beezus Corporation acquired 10.000 shares of its own S4 par common stock $28 per share. On December 15, 8,000 shares of the treasury stock is sold for $35 per share. Journalize the purchase and sale of the treasury stock assuming that the company uses the cost method. Oct 1 Dec 15 Refer to the data from Problem 1. If there were 1,000,000 authorized shares and 100,000 issued shares at October 1, how many shares were outstanding after the December 15 transaction? Page 2

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