1&2

1. Pharoah Company reported retained earnings at December 31, 2018, of $307,000. Pharoah had 190,000 shares of common stock outstanding at the beginning of 2019. The following transactions occurred during 2019. A cash dividend of $0.35 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 $288,000. Compute the ending balance in retained earnings at the end of 2019. (List items that increase retained earnings first.) Pharoah Company Retained Earnings Statement Bramble Corp. reported the following balances at December 31, 2018: common stock $401,000, paid-in capital in excess of par value-common stock $105,000, and retained earnings $241,000. During 2019, the following transactions affected stockholders' equity. 1. Issued preferred stock with a par value of $124,000 for $210,000. 2. Purchased treasury stock (common) for $44,000. 3. Earned net income of $141,500. 4. Declared and paid cash dividends of $52,000. Prepare the stockholders' equity section of Bramble Corp.'s December 31, 2019, balance sheet. $ > >