Brief Exercise 10-52 Retained Earnings Titanic Corporation's net income for the year ended December 31, 2019, is $380,000. On June 30, 2019, a s0.75 per-share cash dividend was declared for all common stockholders. Common stock in the amount of 38,000 shares was outstanding at the time. The market price of Titanic's stock at year end (12/31/19) is 518 per share Titanic had a $1,100,000 credit balance in retained earnings at December 31, 2018 Required: Calculate the ending balance (12/31/19) of retained earnings 1,504,000 X Feedback Check My Word Set up a T-account for retained earnings. Consider how the information provided affects (debit credits retained earnings