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Exercise 11-14 (Video) Your answer is partially correct. Try again. On January 1, 2020, Blossom Company had $1,335,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,500. The company issued 45,000 shares of common stock at par on July 1 and earned net income of $405,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) (b) Par value is $10, and market price is $19. Par value is $5, and market price is $22. No. Account Titles and Explanation Debit Credit (a) Paid-in Capital in Excess of Par-Common Stock (b) Paid-in Capital in Excess of Par-Common Stock Tamarisk, Inc. reported retained earnings at December 31, 2019, of $303,500. Tamarisk had 199,500 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. 2. A cash dividend of $0.40 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price per share was $16 per share. Net income was $288,000. 3. Compute the ending balance in retained earnings at the end of 2020. (List items that increase retained earnings first.) Tamarisk, Inc. Retained Earnings Statement $ $