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Use the following information: The balance in retained earnings at December 31, 2011...

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Accounting

Use the following information:

The balance in retained earnings at December 31, 2011 was $720,000 and at December 31, 2012 was $582,000. Net income for 2012 was $500,000. A stock dividend was declared and distributed which increased common stock $200,000 and paid-in capital $110,000. A cash dividend was declared and paid.

The amount of the cash dividend was...

a. $248,000.

b. $328,000.

c. $442,000.

d. $638,000.

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