The Dayton corporation began the current year with a retained earnings balance of $32,000. During the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $3,000 on equipment. Also, during the current year, the company earned net income of $12,000 and declared cash dividends of $7,000. Compute the year-end retained earnings balance. $34,000 $37,000 $41,000 $44,000 c. When a corporation completes a 3-for-l stock split the ownership interest of current stockholders is decreased the market price per share of the stock is decreased the par value per share is decreased the market price per share of the stock and the par value per share is decreased A corporation has 50,000 shares of $25 par stock outstanding that has a current market value of $ 150 per share. If the corporation issues a 5-for-1 stock split, the market value of the stock after the split will be approximately $25 $150 $5 $30