QUESTION 16, Clothing Emporium was organized on January 1, 2018. The firm was authorized to issue 100,000 shares of $5 par value common stock During 2018 Issued 30,000 shares of common stock at $7 per share Issued 20,000 shares of common stock at $8 per share Reported a net income of $100,000 Paid dividends of $50,000 What is the ending balance in the Retained Earnings account at the end of 2018? ( $50,000 O $370,000 $420,000 $100,000