Stockholders' equity of Dumfries Corporation is as follows: Common stock, $6 par; issued and outstanding...
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Stockholders' equity of Dumfries Corporation is as follows: Common stock, $6 par; issued and outstanding 220,000 shares: $7,280,000 Paid-in capital excess of par: $4,517,000 Retained earnings: $5,741,000 The current market price of Dumfriess stock is $11 per share. If Dumfries declares and distributes a 30% stock dividend, total paid-in capital (common stock plus paid-in capital excess of par) balance will be:
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