Aspen Corporation reported net income of $120,000 for its fiscal year and declared and paid cash dividends of $60,000 during the year. In November, the 10,000 shares of $10 par, common stock split, 2 for 1. If the ending balance of the Retained Earnings prior to the split was $200,000, the beginning balance was:

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The Answer of Aspen Corporation reported net income of $120,000 for its fiscal year and declared and paid cash dividends of $60,000 during the year. In November, the 10,000 shares of $10 par, common stock split, 2 for 1. If the ending balance of the Retained Earnings prior to the split was $200,000, the beginning balance was:

Aspen Corporation Reported Net Income of $120,000 for Its Fiscal