CBA Inc. has 400,000 shares outstanding with a $5 par value. The shares were issued for $12. The stock is currently selling for $34. CBA has $5,000,000 in retained earnings and has declared a stock dividend that will increase the number of outstanding shares by 6%. How many shares will be outstanding after the stock dividend? Multiple Choice 9,328,000 424,000 376,000 400,000

CBA Inc. has 400,000 shares outstanding with a $5 par value. The shares were issued for $12. The stock is currently selling for $34. CBA has $5,000,000 in retained earnings and has declared a stock dividend that will increase the number of outstanding shares by 6%. How many shares will be outstanding after the stock dividend? Multiple Choice 9,328,000 424,000 376,000 400,000

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Question

Multiple Choice

9,328,000
424,000
376,000
400,000

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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