On June 30,2017,Stephans,Inc On July 1,2017,the Company Declared and Distributed a 6% Stock

question 20

Multiple Choice

On June 30,2017,Stephans,Inc.showed the following data on the equity section of their balance sheet: $$\begin{array} { | l | r | } \hline \text { Stockholders' equity } & \\\hline \text { Common stock, } \$ 1 \text { par; } 199,000 \text { shares authorized, } & \\157,000 \text { shares issued and outstanding } & \$ 157,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & \$ 262,000 \\\hline \text { Retained Earnings } & \$ 957,000 \\\hline \text { Total Stockholder's Equity } & \$ 1,376,000 \\\hline\end{array}$$ On July 1,2017,the company declared and distributed a 6% stock dividend.The market value of the stock at that time was $14 per share.Following this transaction,what is total stockholders' equity?

• A)$1,376,000
• B)$1,558,140
• C)$1,302,860
• D)$1,208,840

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