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Stock Dividends and Stock Splits Lance Products' balance sheet includes total assets of $587,000 and the following equity account balances at December 31, 2013: Lance's
Stock Dividends and Stock Splits
Lance Products' balance sheet includes total assets of $587,000 and the following equity account balances at December 31, 2013:
Lance's common stock is selling for $10 per share on December 31, 2013. How much would Lance Products have reported for total assets and retained earnings on December 31, 2013, If the firm had declared and paid a $33,000 cash dividend on December 31, 2013? How much would Lance have reported for total assets end retained earnings on December 31, 2013, if the firm had issued a 15% stock dividend on December 31, 2013? If total assets or retained earnings are not changed please select "No change" and enter zero ("O") in the amount boxStep by Step Solution
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