Question

The following information has been taken from the ledger accounts of Flint Corporation.

Total income since incorporation   $292,000
Total cash dividends paid   55,000
Total value of stock dividends distributed   31,000
Gains on treasury stock transactions   16,000
Unamortized discount on bonds payable   29,000


Determine the current balance of retained earnings.

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Intermediate Accounting: Reporting And Analysis
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