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The following balances were taken from the records of S Company: Common stock $2,500,000 Retained earnings, 1/1/11 $1,450,000 Net income for 2014 3,000,000 Dividends declared

The following balances were taken from the records of S Company:

Common stock $2,500,000

Retained earnings, 1/1/11 $1,450,000

Net income for 2014 3,000,000

Dividends declared in 2014 (1,550,000)

Retained earnings, 12/31/11 2,900,000

Total stockholders

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