Refer to the information for Titanic Corporation below. Titanic Corporation's net income for the year ended December

Question:

Refer to the information for Titanic below.
Titanic Corporation's net income for the year ended December 31, 2019, is $380,000. On June 30, 2019, a $0.75 per-share cash was declared for all common stockholders. in the amount of 38,000 shares was outstanding at the time. The market price of Titanic's stock at year end (12/31/19) is $18 per share. Titanic had a $1,100,000 credit balance in retained earnings at December 31, 2018.
Required:
Calculate the ending balance (12/31/19) of retained earnings.
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