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Cullumber Company has 493000 shares of $10 par value common stock outstanding. During the year Cullumber declared a 14% stock dividend when the market
Cullumber Company has 493000 shares of $10 par value common stock outstanding. During the year Cullumber declared a 14% stock dividend when the market price of the stock was $36 per share. Three months later Cullumber declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $464800. $2821932. O $2484720. O $488070.
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
11th edition
978-1111530266
