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Exercise 11-18 Blue Spruce Corp, reported retained earnings at December 31, 2019, of $319,500. Blue Spruce had 194,500 shares of common stock outstanding at the
Exercise 11-18 Blue Spruce Corp, reported retained earnings at December 31, 2019, of $319,500. Blue Spruce had 194,500 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020 1. A cash dividend of $0.50 per share was declared and paid. 2. A 10% stock dividend was declared and distributed when the market price per share was $19 per share. 3. Net income was $281,000. Compute the ending balance in retained earings at the end of 2020. (List items that increase retained earnings first.) Blue Spruce Corp. Retained Earnings Statement
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