At the start of the fiscal year, Comfortable Company has 100,000 shares of its ₱10 par value common stock. The stocks were initially issued at ₱18 per share. On June 16, the company issued additional 20,000 shares at ₱20 per share. Comfortable Company has retained earnings of ₱245,600 at the beginning of the fiscal year. The company reported net income of ₱89,540. On September 30, cash dividend of ₱60,000 were distributed to stockholders. How much would be the stockholders' equity at the end of fiscal year October 31, 2019?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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 At the start of the fiscal year, Comfortable Company has 100,000 shares of its ₱10 par value common
stock. The stocks were initially issued at ₱18 per share. On June 16, the company issued additional 20,000
shares at ₱20 per share. Comfortable Company has retained earnings of ₱245,600 at the beginning of the
fiscal year. The company reported net income of ₱89,540. On September 30, cash dividend of ₱60,000
were distributed to stockholders. How much would be the stockholders' equity at the end of fiscal year
October 31, 2019?

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