Mission Corporation Reported the Following Equity Section on Its Current

question 219

Multiple Choice

Mission Corporation reported the following equity section on its current balance sheet.The common stock is currently selling for $18.00 per share. $$\begin{array} { | l | r | } \hline \begin{array} { l } \text { Common Stock, } \$ 5 \text { par, } 194,000 \text { shares authorized, } 143,000 \text { shares issued } \\\text { and outstanding }\end{array} & \$ 715,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & 130,000 \\\hline \text { Retained Earnings } & 301,000 \\\hline \text { Total Stockholders' Equity } & \$ 1,146,000 \\\hline\end{array}$$ After the declaration and distribution of a 12% stock dividend,what is the total number of common shares issued?

• A) 13,000
• B) 160,160
• C) 143,000
• D) 17,160

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Definitions:

Labor Time

The amount of time workers spend producing goods or delivering services.

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