Exercise 11-6 Stock dividends and per share book values LO P2

[The following information applies to the questions displayed below.] The stockholders equity of TVX Company at the beginning of the day on February 5 follows:

Common stock$10 par value, 150,000 shares authorized, 60,000 shares issued and outstanding	$	600,000
Paid-in capital in excess of par value, common stock		425,000
Retained earnings		550,000
Total stockholders equity	$	1,575,000

2. On February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $40 per share on February 5 before the stock dividend. The stocks market value is $33.40 per share on February 28.

3. Compute the total market value of the investors shares in part 2 as of February 5 and February 28.