Cullumber Company reported retained earnings at December 31, 2021, of $300,500. Cullumber had 194,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. 2. 3. A cash dividend of $0.35 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price per share was $14 per share. Net income was $282,000. Compute the ending balance in retained earnings at the end of 2022. Retained earnings $

Cullumber Company reported retained earnings at December 31,2021 , of $300,500. Cullumber had 194,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. Acashdividend of $0,35 per share was declared and paid. 2. A 10% stock dividend was declared and distributed when the market price per share was $14 per share. 3. Net income was $282,000. Compute the ending balance in retained earnings at the end of 2022