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At the end of 2021, Your Company decided to issue a 30% stock dividend. At the time of issue, the market price of the stock
At the end of 2021, Your Company decided to issue a 30% stock dividend. At the time of issue, the market price of the stock was $15 per share. Prior to the dividend, the stockholders' equity accounts report the following balances:
Common stock, $2 par, 500,000 shares authorized, 45,000 shares issued and 40,000 shares outstanding | $90,000 |
Paid in capital in excess of par | 546,000 |
Retained earnings | 775,000 |
What was the dollar amount of the stock dividend?
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