Question
On June 30, 2018, Dakota, Inc. showed the following data on the equity section of their balance sheet: Stockholders' Equity Common Stock, $ 1.00$1.00 par;
On June 30, 2018, Dakota, Inc. showed the following data on the equity section of their balance sheet:
| Stockholders' Equity | |
| Common Stock, $ 1.00$1.00 par;193 comma 000193,000 shares authorized,157 comma 000157,000 shares issued and outstanding | $ 157 comma 000$157,000 |
| PaidminusIn Capital in Excess ofParlong dashCommon | $ 275 comma 000$275,000 |
| Retained Earnings | 946 comma 000946,000 |
| Total Stockholder's Equity | $ 1 comma 378 comma 000$1,378,000 |
On July 1, 2018, the company declared and distributed a
1212%
stock dividend. The market value of the stock at that time was
$ 16.00$16.00
per share. As a result of this stock dividend, what is the balance of Retained Earnings?
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ICSA Study Text In Management Accounting
Authors: Richard Lyall
4th Edition
186072308X, 978-1860723087
