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Ace Products sells marked playing cards to blackjack dealers. It has not paid a dividend in many years, but is currently contemplating some kind of

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Ace Products sells marked playing cards to blackjack dealers. It has not paid a dividend in many years, but is currently contemplating some kind of dividend. The capital accounts for the firm are as follows: Common stock (2,900,000 shares at $10 par) 29,000,000 Capital in excess of par 6,000,000 Retained earnings 25,000,000 Net worth 60,000,000 The increase in capital in excess of par as a result of a stock dividend is equal to the new shares created times (Market price-Par value). The company's stock is selling for S50 per share. The company had total earmings of $14.500,000 during the year. With 2,900,000 shares outstanding, eamings per share were $5. The firm has a PIE ratio of 10. a. What adjustments would have to be made to the capital accounts fora 10 percent stock dividend? Show the new capital accounts. (Do not round intermediate calculations. Input your answers in dollars, not millions (e.g. $1,230,000 Common stock Capital in excess of par Retained earnings Net worth

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