Empirana, Inc. earned P960,000.00 in a year. The management declared a dividend of P3.50 per share of common stocks. What is the addition to retained earnings? Assume that the Empirana has the following. Capital Stock 9,000 shares of preferred stocks, 7% par value of P100 each 200,000 share of common stocks, par value of P30 each Select one: O a. P700,000.00 b. P260,000.00 O c. P197,000.00 No answer e. P763,000.00

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