At the beginning of the current year, Elite Corporation had 220,000 shares of $1 par common stock outstanding and had retained earnings of $5,000,000. During the year, the company earned $1,695,000, declared a 10% stock dividend when the price of stock was $30 per share, and paid a year-end cash dividend of $4 per share. (The cash dividend was paid after the stock dividend had been distributed.) What was Elite Corporation's retained earnings at the end of the year? Multiple Choice Q A A n O $6.035,000 O 82 @ $3.372,000 $5,133,000 $5,067,000 M * 2 S > 80 Baz 238 24 75 # 93 E LLI $ 4 65 % 55 Muchock Pro 6 <1 r t y &7 38 j d dd 39 . 8 9 1 c f g h k 2 10 [ 0 p