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Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2012: Common Stock, $10 par, 50,000 shares authorized, 20,000 shares issued

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Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2012: Common Stock, $10 par, 50,000 shares authorized, 20,000 shares issued $200,000 Contributed Capital in Excess of Par Value, Common 250,000 Retained Earnings 500,000 Total stockholders' equity $950,000 The following transactions occurred during 2013: February 3 Sold and issued 3,000 shares of common stock for $22 per share. Declared a $0.50 per share dividend on common stock. May 10 Net income for the year was determined to be $75,000 December 31 CommoTStOCK, $T0 par, 50,000 Snares dutioizeu, 20,000 shares issued DZ00,000 Contributed Capital in Excess of Par Value, Common 250,000 Retained Earnings 500,000 Total stockholders' equity $950,000 The following transactions occurred during 2013: February 3 Sold and issued 3,000 shares of common stock for $22 per share. May 10 Declared a $0.50 per share dividend on common stock. December 31 Net income for the year was determined to be $75,000 Assuming that the dividend was eventually paid during the year, calculate the ending balance in the Retained Earnings account

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