16 Retained Earnings a $1,200,000 credit balance in retained earnings at the beginning common stockholders. Common stack in the amount of Titanic Corporation's met income for the year is $450,000. On June 30, a $0.50 per-share cash dividend was declared for. 37,000 shares was outstanding at the time. The market price of Titanic's stock at year end is $17 per share Titanic had of the year Assume that in July 31, Titanic discovered that prior year's depreciation was overstated by $70,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below Open spreadsheet