Problem 17-02A The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2020 2019 Common stock, 10,500 and 10,000 shares, respectively, for 2020 and 2019 Preferred stock, 5,000 shares Retained earnings $162,300 96,000 304,900 $143,800 96,000 252,500 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $10,700 and increase common stock by $10,700. Cash dividends were $16,600 in both 2020 and 2019. The common stock has no par or stated value. X Your answer is incorrect. Try again. What was the amount of net income reported by Kerbs Corp. in 2020? Net income 304900.00