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At the beginning of the year, Gannon, Inc., had 100,000 shares of common stock outstanding....

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Accounting

At the beginning of the year, Gannon, Inc., had 100,000 shares of common stock outstanding. During the current year, the company distributed a 10 percent stock dividend and subsequently paid a $0.50 per share cash dividend.

a. Calculate the number of shares outstanding at the time of the cash dividend.

b. Calculate the amount of cash required to fund the cash dividend.

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