Solved: As of december 31 2016 retained earnings balance on january, Accounting Basics

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As of december 31 2016 retained earnings balance on january

Question - As of December 31, 2016:

Capital Stock, $1,000,000 ($1 par)

Paid-In Capital in Excess of Par Value-Common, $4,000,000

Retained Earnings Balance on January 1, 2016, $400,000

Retained Earnings Balance on December 31, 2016, $300,000

Dividends declared and paid in 2016: $1,100,000

How many shares of stock are issued and outstanding?

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Accounting Basics: As of december 31 2016 retained earnings balance on january

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