Stockholders' equity of Afellay Corporation is as follows: Common stock, $5 par; issued...
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Accounting
Stockholders' equity of Afellay Corporation is as follows:
Common stock, $5 par; issued and outstanding 150,000 shares: $5,280,000
Paid-in capital excess of par: $3,715,000
Retained earnings: $3,695,000
The current market price of Afellays stock is $32 per share. If Afellay declares and distributes a 35% stock dividend, retained earnings balance will be:
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