Bramble Corp. has 556000 shares of $10 par value common stock outstanding. During the year, Bramble declared a 16% stock dividend when the market price of the stock was $31 per share. Four months later Bramble declared a $0.50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by

$489280.

$1378880.

$ 444800.

$3080240.