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Alexander inc.,declared and distributed a 10percent stock dividend on its 700,000 shares of outstanding $5 par value common stock when the stock was selling for

Alexander inc.,declared and distributed a 10percent stock dividend on its 700,000 shares of outstanding $5 par value common stock when the stock was selling for $12 per share. The outstanding shares had originally been sold at $8 per share. The balance in retained earnings before the declaration of the stock dividend, but after the addition of the current year's net income was $995,000.

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