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View Policies Current Attempt in Progress The balance in retained earnings at December 31, 2020...

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Accounting

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View Policies Current Attempt in Progress The balance in retained earnings at December 31, 2020 was $1431000 and at December 31, 2021 was $1164000. Net income for 2021 was $1016000. A stock dividend was declared and distributed which increased common stock $507000 and paid-in capital $63000. A cash dividend was declared and paid. The stock dividend should be reported on the statement of cash flows (indirect method) as an outflow from financing activities of $570000. O an outflow from investing activities of $570000 an outflow from financing activities of $507000, Stock dividends are not shown on a statement of cash flows

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