Bruno's Has 7,000 Shares of Stock Outstanding with a Par

question 48

Multiple Choice

Bruno's has 7,000 shares of stock outstanding with a par value of $1.00 per share and a market value of $12 per share.The balance sheet shows $7,000 in the common stock account, $58,000 in the capital in excess of par account, and $32,500 in the retained earnings account.The firm just announced a 50% (large) stock dividend.What is the market value per share after the dividend?

• A)$6.00
• B)$8.00
• C)$9.00
• D)$10.50
• E)$12.00

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