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Question
Omega Sports has the following equity accounts on its balance sheet:| Common stock ($0.50 par, 900,000 shares) | $ 450,000 |
| Contributed capital in excess of par | 5,580,000 |
| Retained earnings | 21,204,000 |
| Total common stockholders' equity | $27,234,000 |
The current market price of the firm's shares is $20. If the firm declares a 10 percent stock dividend and a cash dividend of $0.10 per share, the retained earning account would change to ____.
a. $21,060,000
b. $19,305,000
c. $25,335,000
d. $19,404,000
Answer
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Related questions
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