Sheridan Company reported retained earnings at December 31, 2021, of $301.500. Sheridan had 193,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. 2 A cash dividend of $0.40 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price per share was $15 per share. Net income was $280,000 3. Compute the ending balance in retained earnings at the end of 2022 Retained earnings