66. Randall's, Inc. has 20,000 shares of stock outstanding with a par value of $1.00 per share. The market value is $12 per share. The balance sheet shows $42,000 in the capital in excess of par account, $20,000 in the common stock account, and $50,500 in the retained earnings account. The firm just announced a 5 percent (small) stock dividend. What will the balance in the retained earnings account be after the dividend? A. $38,500 B. $39,500 C. $50,500 D. $61,500 E. $62,500 Retained earnings = [(20,000 shares 0.05) $12 -1] + $50,500 = $38,500

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