(Computation of Retained Earnings) The following information has been taken from the ledger accounts of Sampras Corporation.
|
Total income since incorporation |
$287,000 |
|
Total cash dividends paid |
60,000 |
|
Total value of stock dividends distributed |
40,000 |
|
Gains on treasury stock transactions |
18,000 |
|
Unamortized discount on bonds payable |
32,000 |
Instructions
Determine the current balance of retained earnings.