Consider the following balance sheet for M company:

Retained Earnings Common stock

December 31, 2019 $??????? $145,000

December 31, 2018 $765,000 $125,000

In 2019 it had EPS of $2.50 and 75,000 shares outstanding. It has a dividend payout ratio of 25%, a tax rate was 30%. In addition, M issued common stock of $20,000, and had capital spending of $135,000.

Label each answer clearly and include your calculations below your answers

1. What is the Dec 31, 2019 Retained earnings balance?

2. How much was paid in dividends per share?