Question
Mambo Corporations December 31, 2020 balance sheet showed the following Shareholder Equity: Paid in Capital: 8% preferred stock, $20 par value, cumulative $ 150,000 Common
Mambo Corporations December 31, 2020 balance sheet showed the following Shareholder Equity:
Paid in Capital: | |
8% preferred stock, $20 par value, cumulative | $ 150,000 |
Common stock, $10 par value | 500,000 |
Additional Paid-in capital in excess of parP/S | 200,000 |
Additional Paid-in capital in excess of parC/S | 900,000 |
Total Paid In Capital | 1,750,000 |
Retained Earnings | 2,000,000 |
Total Shareholders' Equity | $ 3,750,000 |
A 12% common stock dividend is declared when the market price is $16. Right after the declaration, the additional Paid-in capital in excess of par - C/S will be ___________.
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