Cyber Company reported a retained earnings balance of $300,000 at December 31,2010 . In May 2011, Cyber discovered that $18,000 commission expense had not been included in its 2010 financial statement. Cyber's effective tax rate is 30%. What amount should Cyber report as adjusted beginning retained earnings in its statement of retained earnings at December 31,2011 ? $318,000 $312,600 $287,400 $282,000 On January 1, 2010, Cyber Company granted Chase, its president, stock options to buy 10,000 shares of Cyber's \$10 par common stock at $20 per share. The options are exercisable for two years following the grant date. Chase exercised the options on December 31,2010 . The market price of the stock was $30 on January 1,2010 , and $40 on December 31 , 2010. The fair value of a similar stock option with the same terms was $12 on the grant date. By what net amount should stockholders' equity increase as a result of the grant and exercise of the option? $120,000 $200,000 $300,000 $400,000
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