Exercise 11-18 Your answer is partially correct. Splish Brothers Inc. reported retained earnings at December 31, 2018, of $308,000. Splish Brothers had 203,000 shares of common stock outstanding at the beginning of 2019. The following transactions occurred during 2019. 1. A cash dividend of $0.50 per share was declared and paid. 2. A 10% stock dividend was declared and distributed when the market price per share was $13 per share. 3. Net income was $281,000. Compute the ending balance in retained earnings at the end of 2019. (List items that increase retained earnings first.) Splish Brothers Inc. Retained Earnings Statement For the Year Ended December 31, 2019 , > T Retained Earnings Balance, December 31, 2018 308,000 Add Total Expenses 101,500 409,500 Less T Stock Dividends 263,900