Question
Marks Appliance store has the following equity accounts as of 12/31/X4 Common Stock, $1 par value (500,000 authorized; 10,000 issued and outstanding) $ 10,000 Paid-in
Marks Appliance store has the following equity accounts as of 12/31/X4 Common Stock, $1 par value (500,000 authorized; 10,000 issued and outstanding) $ 10,000 Paid-in capital in excess of par, common stock $590,000 Retained Earnings $210,000 The following transactions took place during 20X5: 2/1/X5 Marks Appliance stock split its stock 4 for 1. The new par value is $0.25 and the post-split market value is $5 a share. 4/1/X5 Mark declared and issued a 5% stock dividend when the stocks market value was $7 a share. 10/1/X5 Mark declared and issued a 30% stock dividend when the stocks market value was $10 a share. 12/1/X5 Mark declared and issued a $3,000 cash dividend. 20X5 Net income for the year was $136,000 What is the total reported balance in Stockholders Equity as of 12/31/20X5? Group of answer choices a.)620,300 b.)946,150 c.)924,250 d.)948,300
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