Cullumber Company reported retained earnings at December 31, 2019, of $307,000. Cullumber had 190,000 shares...
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Cullumber Company reported retained earnings at December 31, 2019, of $307,000. Cullumber had 190,000 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. A cash dividend of $0.35 per share was declared and paid. 2. 3. Net income was $288,000. Compute the ending balance in retained earnings at the end of 2020. A 10% stock dividend was declared and distributed when the market price per share was $13 per share. Retained earnings Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Question Attempts: 2 of 3 used
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