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Question
Concin has the following equity accounts on its balance sheet:| Common stock ($0.25 par, 9 million shares) | $ 2,250,000 |
| Contributed capital in excess of par | 89,400,000 |
| Retain earnings | 67,503,189 |
| $159,153,189 |
The current market price for a share of Concin's stock is $24.25. If the firm declares a 10% stock dividend and a $0.06 per share cash dividend, what will be the impact on Common stock on the above equity account?
a. no change
b. increase of $225,000
c. increase of $54,000
d. increase of $21,600,000
Answer
This answer is hidden. It contains 47 characters.
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