Business, 24.08.2021 02:30 thebasedgodchri

Blossom Company reported retained earnings at December 31, 2019, of $308,000. Blossom had 203,000 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. A cash dividend of $0.50 per share was declared and paid.
2. A 10% stock dividend was declared and distributed when the market price per share was $13 per share.
3. Net income was $281,000.
Compute the ending balance in retained earnings at the end of 2020.

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Blossom Company reported retained earnings at December 31, 2019, of $308,000. Blossom had 203,000 sh...

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