Wendell company provided the following pertaining to its recent year of operation: • common stock with a $10,000 par value was sold for $50,000 cash.• cash dividends totaling $20,000 were declared, of which $15,000 were paid.• net income was $70,000• a 5% stock dividend resulted in a common stock distribution, which had a $5,000 par value and a $23,000 market value.• treasury stock costing $9,000 was sold for $7,000.how much did wendell's retained earnings increase during the recent year of operation? a. $32,000b. $45,000c. $29,000d.$27,000

Option (D) $27,000

Explanation:

Data provided in the question:

Cash dividends declared = $20,000

Dividends paid = $15,000

Net income = $70,000

Market value of the stock dividend = $23,000

Treasury stock = $9,000

Selling cost of the treasury stock = $7,000

Now,

Retained earnings increase during the recent year of operation will be

= Net income - Cash dividends declared - Market value of the stock dividend

= $70,000 -  $20,000 - $23,000

= $27,000

Hence,

Option (D) $27,000

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public property refers to the property that can be used by all legal citizens in a certain country. the public property was created and maintain using the government budget that allocated specifically for it. the budget itself come from the citizen's income tax payment.

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