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On August 1,2026 the board of directors of Pharoah declared a 16% stock dividend on common stock, to be distributed on September 15th. The market

On August 1,2026 the board of directors of Pharoah declared a 16% stock dividend on common stock, to be distributed on September 15th. The market price of Pharoah's common stock was $68 on August 1, 2026, and $74 on September 15, 2026. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend

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