Umbridge Corporation has total stockholders' equity of $11,000,000. This balance is composed of retained earnings of $9,000,000 and paid-in capital of $2,000,000. The paid-in capital consists of 1,2,00,000 shares issued and 1,000,000 shares outstanding at their par value of $2. On January 1, the company declares a 10% stock dividend when the market price is $12 per share. After the stock dividend, the company's retained earnings balance will be: $8,800,000 $9,200,000 $7,800,000 $9,000,000 Umbridge Corporation has total stockholders' equity of $11,000,000. This balance is composed of retained earnings of $9,000,000 and paid-in capital of $2,000,000. The paid-in capital consists of 1,2,00,000 shares issued and 1,000,000 shares outstanding at their par value of $2. On January 1, the company declares a 10% stock dividend when the market price is $12 per share. After the stock dividend, the company's total stockholders' equity will be: $11,120,000 There is no such thing as stockholders' equity $11,000,000 $9,800,000