(Answered) Sasha company reported retained earnings at december 31

Accounting

Sasha Company reported retained earnings at December 31, 2009, of $310,000. Sasha had 200,000 shares of common stock outstanding throughout 2010.

The following transactions occurred during 2010.

1. An error was discovered: in 2008, depreciation expense was recorded at $70,000, but the correct amount was $50,000.

2. A cash dividend of $0.50 per share was declared and paid.

3. A 5% stock dividend was declared and distributed when the market price per share was $15 per share.

4. Net income was $285,000.

Instructions

Prepare a retained earnings statement for 2010.

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