The balance in retained earnings at December 31, 2020 was $1,440,000 and at December 31, 2021 was $1,164,000. Net income for 2021 was $1,000,000. A stock dividend was declared and distributed which increased common stock $500,000 and paid-in capital $280,000. A cash dividend was declared and paid.

The amount of the cash dividend was

		$496,000.
		$556,000.
		$776,000.
		$1,276,000.