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A company had 12,000 shares outstanding at the beginning of the year. During the year, the company declared a 35% stock dividend when the market

A company had 12,000 shares outstanding at the beginning of the year. During the year, the company declared a 35% stock dividend when the market price of the stock was $30 per share. The par value of common stock was $10. The companys retained earnings had a beginning balance of $665,000 and net income for the year as $67,000. What is the ending balance for retained earnings?

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