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Show me the steps to solve Oriole Company reported retained earnings at December 31, 2021, of $318,500. Oriole had 194,000 shares of common stock outstanding
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Oriole Company reported retained earnings at December 31, 2021, of $318,500. Oriole had 194,000 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. 2. 3. A cash dividend of $0.65 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price per share was $17 per share. Net income was $285,000. Compute the ending balance in retained earnings at the end of 2022. Retained earnings $
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