Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 110 million common shares, $1 par per share. Retained Earnings (5 in millions) Retirement of 10 million common shares for $34 million Declaration and payment of a $0.37 per share cash dividend. Declaration and distribution of a 1051 3 89 37 Beginning balance Net income for the year 5% stock dividend 37 117 Ending balance