The Following Information Is Available for Blowing Rock Corporation $\begin{array}{lr}\text { Common Stock ( } \$ 5 \text { par) } & \$ 1,600,000 \\\text { Retained Earnings } & 1,200,000\end{array}$

question 6

Essay

The following information is available for Blowing Rock Corporation: $\begin{array}{lr}\text { Common Stock ( } \$ 5 \text { par) } & \$ 1,600,000 \\\text { Retained Earnings } & 1,200,000\end{array}$ An 18% stock dividend is declared and paid when the market value was $16 per share.
Instructions
Compute each of the following after the stock dividend.
(a) Total stockholders' equity.
(b) Number of shares outstanding.

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Definitions:

Acreage

The area of land measured in acres, often used in the context of agricultural land use.

Wood Produced

The amount of timber generated through logging activities, which is a raw material for numerous industries.

Fuel-Efficient

Describes vehicles or machinery that use less fuel to achieve a certain level of performance, reducing energy consumption and costs.

Gasoline

A volatile, flammable liquid derived from petroleum, primarily used as fuel in internal combustion engines.