Retained Earnings 566,000 During the year, the following transactions occurred. Jan. 15 Declared a $1 cash dividend per share to stockholders of record on January 31 , payable February 15. Feb. 15 Paid the dividend declared in January. Apr, 15 Declared a 10\% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share. May 15 Issued the shares for the stock dividend. July 1 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $13. (The new par value is \$5.) Dec. 1 Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10.2023. Dec, 31 Determined that net income for the year was $290,000. Retained Earnings 566,000 During the year, the following transactions occurred. Jan. 15 Declared a $1 cash dividend per share to stockholders of record on January 31 , payable February 15. Feb. 15 Paid the dividend declared in January. Apr, 15 Declared a 10\% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share. May 15 Issued the shares for the stock dividend. July 1 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $13. (The new par value is \$5.) Dec. 1 Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10.2023. Dec, 31 Determined that net income for the year was $290,000