The company gives the following data: ordinary shares of $0.50 each $84\,000 retained earnings $50\,000 total $134\,000 The following transactions then occur. 1 The company carries out a rights issue of one new ordinary share for every two held, at $1.30. The issue was fully subscribed. 2 A bonus issue of two new ordinary shares for every three held was then carried out. What is the maximum possible balance of the retained earnings after these transactions?
- A$8\,400
- B$16\,800
- C$33\,200
- D$41\,600