Oriole Company reported retained earnings at December 31, 2018, of $312,500. Oriole had 210,000 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 5% stock dividend was declared and distributed when the market price per share was $15 per share.
3. Net income was $282,000.
Retained earning statement :
Compute the ending balance in retained earnings at the end of 2019.