Use the Following to Answer Questions

question 97

Multiple Choice

Use the following to answer questions
Gilligan Corporation was established on February 15,2014.Gilligan is authorized to issue 500,000 shares of $6.00 par value common stock.As of December 2016,Gilligan's stockholders' equity accounts report the following balances:
At the end of 2016,Gilligan decides to issue a 5% stock dividend.
At the time of issue,the market price of the stock was $22 per share.

-Determine the dollar value of the stock dividend issued by Gilligan Corporation.

• A)$60,500
• B)$16,500
• C)$44,000
• D)$108,500

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Definitions:

Spermatid

An immature male gamete or reproductive cell that develops into a mature spermatozoon.

Spermicide

A chemical product used during sexual intercourse to kill sperm, thereby reducing the likelihood of pregnancy.

Ejaculatory Duct

A duct through which semen is ejected into the urethra before being expelled from the body during ejaculation.

Seminal Duct

A duct through which semen is discharged, including the vas deferens and the ejaculatory ducts.