Mingenback Company has 630,000 shares of $10 par value common stock outstanding. During the year...
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Accounting
Mingenback Company has 630,000 shares of $10 par value common stock outstanding. During the year Mingenback declared a 15% stock dividend when the market price of the stock was $48 per share. Two months later Mingenback declared a $.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by: $434,700$594,000$4.536,000$4,970,700
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