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Concin Has the Following Equity Accounts on Its Balance Sheet

question 45

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Concin has the following equity accounts on its balance sheet:  Common stock ( $0.25 par, 9 million shares)  $2,250,000 Contributed capital in excess of par 89,400,000 Retain earnings 67,503,189$159,153,189\begin{array}{lr}\text { Common stock ( } \$ 0.25 \text { par, } 9 \text { million shares) } & \$ 2,250,000 \\\text { Contributed capital in excess of par } & 89,400,000 \\\text { Retain earnings } & 67,503,189 \\&\$159,153,189\end{array} ? The current market price for a share of Concin's stock is $24.25. If the firm declares a 10% stock dividend and a $0.06 per share cash dividend, what will be the impact on Common stock on the above equity account?

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