On January 1, 2016, Albacore Company had 340,000 shares of its common stock issued and outstanding. Albacore issued a 9% stock dividend on July 1, 2016, On October 1, 2016, Albacore retired 10,000 of its common shares. When calculating basic earnings per share for 2016, what is the appropriate number of shares for Albacore to use in the denominator of the EPS fraction? 368, 100. 370, 600. 350, 900. 373, 100 On October 1, 2016, Chief Corporation declared and issued a 9% stock dividend. Before this date, Chief had 86,000 shares of $5 per common stock outstanding. The market value of chief Corporation on the data of declaration was $10 per share. As a result of this dividend, Chief's retained earnings will: Increase by $77, 400 Decrease by $77, 400. Decrease by $78, 900. Not change