Multiple Choice
King Corp.has one million shares outstanding with a par value of $5.On August 24 of this year,it issued a 10% stock dividend when its stock price was $25.As a result of this stock dividend,retained earnings:
A) increased by $500,000.
B) increased by $2,500,000.
C) decreased by $500,000.
D) decreased by $2,500,000.
Correct Answer:
Verified
Correct Answer:
Verified
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