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13. James Company has 800,000 shares of common stock authorized with a par of $1...

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Accounting

13. James Company has 800,000 shares of common stock authorized with a par of $1 per share, of which 300,000 shares are outstanding. When the market value was $6 per share, James declared and issued a 10% stock dividend. As a result of this dividend, James retained earnings will:

1. Decrease by $180,000

2. Increase by $180,000

3. No Change

4. Decrease by $30,000

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