Swifty Inc. has retained earnings of $790000 and total stockholders' equity of $1910000. It has 306000 shares of $5 par value common stock outstanding, which is currently selling for $32 per share. If Swifty declares a 9% stock dividend on its common stock: retained earnings will decrease by $881280 and total stockholders' equity will increase by $881280. O net income will decrease by $137700. O retained earnings will decrease by $881280 and total paid-in capital will increase by $881280. O retained earnings will decrease by $137700 and total stockholders' equity will increase by $137700. eTexthocok and Media

Swifty Inc. has retained earnings of $790000 and total stockholders' equity of $1910000. It has 306000 shares of $5 par value common stock outstanding, which is currently selling for $32 per share. If Swifty declares a 9% stock dividend on its common stock: retained earnings will decrease by $881280 and total stockholders' equity will increase by $881280. O net income will decrease by $137700. O retained earnings will decrease by $881280 and total paid-in capital will increase by $881280. O retained earnings will decrease by $137700 and total stockholders' equity will increase by $137700. eTexthocok and Media

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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