Question: Current Attempt in Progress Pharoah A $. reported retained earnings at December 31, 2019of t355,000. Pharoah had 200.000 shares outstanding at the beginning of 2020

Current Attempt in Progress Pharoah A $. reported retained earnings at December 31, 2019of t355,000. Pharoah had 200.000 shares outstanding at the beginning of 2020 The following transactions occurred during 2020. A cash dividend of t0.50 per share was declared and paid. A 5% share dividend was declared and distributed when the market price per share was 15 per share Net income was 270.000 1 2. 3 Prepare a retained earnings statement for 2020. PHAROAH A. Retained Earnings Statement

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