QUESTION 26 The balance in retained earnings at December 31, 2020 was $1,440,000 and at December 31, 2021 was $1,164,000 Net income for 2021 was $1,000,000 A stock dividend was declared and distributed which increased common stock $500,000 and paid-in capital $280,000. A cash dividend was declared and paid The amount of the cash dividend was S496,000 $556,000 $776,000 $1,276,000