8. A corporate charter specifies that the company may sell up to 20 million shares of stock. The company sells 12 million shares to investors and later buys back 3 million shares. The number of authorized shares after these transactions are accounted for is: A) 12 million shares. B) 20 million shares. C) 9 million shares. D) 17 million shares. 9. A corporation declared a stock dividend on November 1 and issued 9,000 shares of stock to its stockholders. Prior to the dividend, the balance in Retained Earnings was $850,000, the number of shares of $5 par value stock issued and outstanding was 60,000, and the market value of the stock was $12. This stock dividend will cause total stockholders' equity to: A) remain unchanged B) increase by $45,000. C) decrease by $108,000. D) decrease by $63,000. I 10. A company had 300,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $1,500,000, and Retained Earnings is $450,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance? A) $6,000,000 B) $6,900,000 C) $3,000,000 D) $4,500,000