Pluto's Has 15,300 Shares of Stock Outstanding with a Par

question 65

Multiple Choice

Pluto's has 15,300 shares of stock outstanding with a par value of $1 per share and a market value of $22.10 per share.The balance sheet shows $324,800 in the capital in excess of par account,$15,300 in the common stock account,and $174,700 in the retained earnings account.The firm just announced a small stock dividend of 12 percent.What will be the balance in the retained earnings account after the dividend?

• A)$129,700.00
• B)$134,124.40
• C)$128,309.18
• D)$132,360.00
• E)$128,509.90