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1 During 2018, Spend-it Corporation reported net income of $200 and paid a $40 stock...

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1 During 2018, Spend-it Corporation reported net income of $200 and paid a $40 stock dividend. Spend-it's December 31, 2017 statement of financial position reported the following items: common stock = $220, capital surplus = $180, retained earnings = $300. What is the value of the retained earnings account for the December 31, 2018 statement of financial position? Multiple Choice 51:20 $540 5460 O $160 O $340 O 0 $360

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