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If a firm has retained earnings of $2.8 million, a common shares account of $4.8 million, and additional paid-in capital of $9.6 million, how would
If a firm has retained earnings of $2.8 million, a common shares account of $4.8 million, and additional paid-in capital of $9.6 million, how would these accounts change in response to a 10 percent stock dividend? Assume market value of equity is equal to book value of equity.Please provide answers in dollars not in millions. All amounts as positive values. Indicate the direction of the effect by selecting "increase," "decrease," or "no change")
Retained Earnings
Common Stock
Additional Paid- in Capital
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