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On October 5, 2018, Chiefs Corporation declared and issued a 20% stock dividend. Prior to this date, Chiefs had 40,000 shares of common stock outstanding

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On October 5, 2018, Chiefs Corporation declared and issued a 20% stock dividend. Prior to this date, Chiefs had 40,000 shares of common stock outstanding with a $5 par value. The market value of Chiefs on the date of declaration was $10 per share. As a result of this stock dividend, Chiefs total shareholders' equity will be: Select one: O a. Decreased by $80,000. O b. Not changed. O c. Decreased by $40,000. O d. Increased by $80,000

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