Question 1 Marigold Corp. has 506000 shares of $10 par value common stock outstanding. During the year Marigold declared a 16% stock dividend when the market price of the stock was $38 per share. Three months later Marigold declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by 477100 $3076480 500940 $3428656