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ACC211CH11A (1) (Protected View) -Microsoft Office Layout References Mailings Review View Faxit PDFTell me whe the Internet can contain viruses. Unless you need to edit i's safer to stary in Protected View EnableEditing 3. Given the following information about a corporation's current year activities, compute the ending retained earnings for the current year or as of Dec 31. You must show how you calculated this number to receive credit (1 point) Retained earnings, Jammary Cash dinsdends Stock dividends Net income 5342,000 551,000 $20,000 $131,000 4 ABC Company has S200,000 of 2% cumulative, preferred stock outstanding, and S150.000 of common stock outstanding. In the company's first year of operation, no dividends were paid, but during the second year it paid cash dividends of $20,000. Compute the dividends to be distributed to (1) preferred shares and (2) common shares. (2 points)