Samantha Corporation provided the following data: Dec 31, 2019 Dec 31, 2020 Share Capital (₱100 par) ₱5,000,000 ₱5,100,0

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answerhappygod
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Samantha Corporation provided the following data: Dec 31, 2019 Dec 31, 2020 Share Capital (₱100 par) ₱5,000,000 ₱5,100,0

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Samantha Corporation provided the following data:
Dec 31, 2019
Dec 31, 2020
Share Capital (₱100 par)
₱5,000,000
₱5,100,000
Share Premium
2,500,000
2,900,000
Accumulated Profits
5,000,000
?
During 2020, the entity declared and paid cash dividends of₱750,000 and also declared and issued a share dividend. There wereno other changes in shares issued and outstanding in 2019 asidefrom the share dividend distribution. The net income for 2020 is₱1,500,000. How much is the balance of AccumulatedProfits on December 31, 2020?
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