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Gordon Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $11.50 per share. Common stock, $5
Gordon Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $11.50 per share.
Common stock, $5 par, 100,000 shares authorized, | |
40,000 shares issued | $ 200,000 |
Paid in capital in excess of par-common | 120,000 |
Retained earnings | 290,000 |
Total stockholders' equity | 610,000 |
What would be the balance of retained earnings after the 10% common stock dividend?
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