On June 30, 2018, Ginger, Inc On July 1, 2018, the Company Declared and Distributed a on the Equity

question 57

Multiple Choice

On June 30, 2018, Ginger, Inc. showed the following data on the equity section of their balance sheet: $$\begin{array} { | l | r | } \hline \text { Stockholders' Equity } & \\\hline \text { Common Stock, } \$ 1 \text { par; 202,000 shares authorized, } & \\150,000 \text { shares issued and outstanding } & \$ 150,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & \$ 260,000 \\\hline \text { Retained Earnings } & \$ 946,000 \\\hline \text { Total Stockholders' Equity } & \$ 1,356,000 \\\hline\end{array}$$ On July 1, 2018, the company declared and distributed a 9% stock dividend. The market value of the stock at that time was $20 per share. Following this transaction, what is the balance of Common Stock?

• A) $163,500
• B) $57,180
• C) $285,540
• D) $357,180

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