Problem 4 s) Fine Foods Limited has 7,500 shares of stock outstanding. The market value is $26.50 per share. The statement of financial position shows $48,200 in the common stock account, and $142,900 in the retained earnings account. The firm just announced a 10 percent stock dividend. What will the balance be in the common stock and retained earnings accounts after the dividend?
Problem 4 s) Fine Foods Limited has 7,500 shares of stock outstanding. The market value is $26.50 per share. The statement of financial position shows $48,200 in the common stock account, and $142,900 in the retained earnings account. The firm just announced a 10 percent stock dividend. What will the balance be in the common stock and retained earnings accounts after the dividend?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Problem 4
s)
Fine Foods Limited has 7,500 shares of stock outstanding. The market value is $26.50 per share. The
statement of financial position shows $48,200 in the common stock account, and $142,900 in the
retained earnings account. The firm just announced a 10 percent stock dividend. What will the balance
be in the common stock and retained earnings accounts after the dividend?
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