Bramble Corp. has 512000 shares of $10 par value common stock outstanding. During the year Bramble declared a 14% k dividend when the market price of the stock was $35 per share. Three months later Bramble declared a $0.70 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $2508800 $506880 $ 482700 $2917376