Homework Answers
Solution:
Cash dividend = 190000 *$0.35 = $66,500
Stock dividend = 190000*10% *$13 = $247,000
Retained earnings at the end of 2020 = Beginning balance + Net income - Cash dividend - Stock dividend
= $307,000 + $288,000 - $66,500 - $247,000
= $281,500
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