On January 1, Sherwood Company had retained earnings of \\( \\$ 18,210 \\). During the vez, Sherwood had revenues of \\( \\$ 837,100 \\) and expenses of \\( \\$ 791,500 \\), and paid cash dividends in the amount of \\( \\$ 38,600 \\). Required: 1. Determine the amount of sherwood's retained earnings at December 31 . 2. Conceptual Connection: Comment on Sherwoods dividend policy. Sherwood is paying of its income to its shareholders in the form of dividends. This dividend poyouc will result in investors receiving relatively more of the company's earnings in during the year. On January 1, Sherwood Company had retained earnings of \\( \\$ 18,210 \\). During the vez, Sherwood had revenues of \\( \\$ 837,100 \\) and expenses of \\( \\$ 791,500 \\), and paid cash dividends in the amount of \\( \\$ 38,600 \\). Required: 1. Determine the amount of sherwood's retained earnings at December 31 . 2. Conceptual Connection: Comment on Sherwoods dividend policy. Sherwood is paying of its income to its shareholders in the form of dividends. This dividend poyouc will result in investors receiving relatively more of the company's earnings in during the year