The balance in retained earnings at December 31, 2020 was $1440000 and at December 31, 2021 was $1168000. Net income for 2021 was $1008000. A stock dividend was declared and distributed which increased common stock $499000 and paid-in capital $99000. A cash dividend was declared and paid.
The amount of the cash dividend was:
a) $381000.
b) $781000.
c) $682000.
d) $1280000.
Answers: 2
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The balance in retained earnings at December 31, 2020 was $1440000 and at December 31, 2021 was $116...
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