Question 8: On January 1, 2004, Peltz Incorporated had 80,000 shares of $4 par common stock issued and outstanding and retained earnings of $270,000. On July 14 a 10% stock dividend was declared when the price of the stock was $12 per share. On July 30, the shares for the stock dividend were issued. Net income for the year was $137,000 What is the ending balance in retained earnings at December 31, 2004? Use this information to answer the following question: Your Answers (money) SUBMIT