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Arthur's Pass Inc. has 200,000 common shares outstanding, each selling at a market price of $12. The par (book) value of its common shares is

Arthur's Pass Inc. has 200,000 common shares outstanding, each selling at a market price of $12. The par (book) value of its common shares is $2 per share. The firm currently has retained earnings of $800,000 on its statement of financial position. If the firm declares a 30% stock dividend, what will be the amount shown for retained earnings on the statement of financial position?

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