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Sullivan Gulch Corporation declared a stock dividend on November 1 and issued 18,000 shares of stock to its stockholders. Prior to the dividend, the balance
Sullivan Gulch Corporation declared a stock dividend on November 1 and issued 18,000 shares of stock to its stockholders. Prior to the dividend, the balance in Retained Earnings was $1,700,000, the number of shares of $5 par value stock issued and outstanding was 120,000, and the market value of the stock was $12. This stock dividend will cause total stockholders' equity to: Multiple Choice O remain unchanged. O Increase by $90,000. O decrease by $216,000. O decrease by $126,000
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