Question
The stockholders equity section of TVX Company on February 4 follows. Common stock$25 par value, 150,000 shares authorized, 60,000 shares issued and outstanding $ 1,500,000
The stockholders equity section of TVX Company on February 4 follows. Common stock$25 par value, 150,000 shares authorized, 60,000 shares issued and outstanding $ 1,500,000 Paid-in capital in excess of par value, common stock 420,000 Retained earnings 555,000 Total stockholders equity $ 2,475,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $36 per share on February 5 before the stock dividend. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
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