Exercise 14-09 x Your answer is incorrect. Try again. Sandhill Company reported retained earnings at December 31, 2019, of $319,500. Sandhill had 194,500 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. 2. 3. A cash dividend of $0.50 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price per share was $19 per share. Net income was $281,000. Compute the ending balance in retained earnings at the end of 2020. Retained earnings 385700 Click if you would like to show Work for this question: Open Show Work LINK TO TEXT Question Attempts: 1 of 3 used SAVE FOR LATER