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On January 1, 2019, Cullumber Company had retained earnings of $495,000. During the year, Cullumber had the following selected transactions. 2 1. 2. 3. Declared
On January 1, 2019, Cullumber Company had retained earnings of $495,000. During the year, Cullumber had the following selected transactions. 2 1. 2. 3. Declared cash dividends $110,000. Earned net income $340,000. Declared stock dividends $55,000. Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Cullumber Company Retained Earnings Statement
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