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The Matt Tress Sofa Company has 16,000 shares of $2 par common stock outstanding. On August 22, 2018, a 2% stock dividend was declared to

The Matt Tress Sofa Company has 16,000 shares of $2 par common stock outstanding. On August 22, 2018, a 2% stock dividend was declared to be distributed on September 30, 2018. The market value of. the stock on August 22 was $27. What is the amount of the stock dividend declared? $640 $8,000 $8,640 $17,280 image text in transcribed

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