Question 7 of 7 < < -/1 E View Policies Current Attempt in Progress Sandhill A.. reported retained earnings at December 31, 2019, of 6385,000. Sandhill had 200,000 shares outstanding at the beginning of 2020. The following transactions occurred during 2020 1. A cash dividend of $0.60 per share was declared and paid 2. 3. A 5% share dividend was declared and distributed when the market price per share was $15 per share. Net income was 1279,000. Prepare a retained earnings statement for 2020.