Ivanhoe Company has 620000 shares of $10 par value common stock outstanding. During the year Ivanhoe declared a 13% stock dividend when the market price of the stock was $47 per share. Two months later Ivanhoe declared a $0.50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $3788200. $4138500. $350300. O $495000.