On June 30,2018,Padres,Inc On July 1,2018,the Company Declared and Distributed a 10% Stock

question 54

Multiple Choice

On June 30,2018,Padres,Inc.showed the following data on the equity section of their balance sheet: $$\begin{array} { | l | r | } \hline \text { Stockholders' Equity } & \\\hline \text { Common Stock, } \$ 1 \text { par; 197,000 shares authorized, } & \\146,000 \text { shares issued and outstanding } & \$ 146,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & \$ 263,000 \\\hline \text { Retained Earnings } & \$ 958,000 \\\hline \text { Total Stockholder's Equity } & \$ 1,367,000 \\\hline\end{array}$$ On July 1,2018,the company declared and distributed a 10% stock dividend.The market value of the stock at that time was $15 per share.Following this transaction,what is the number of shares issued?

• A) 86,500
• B) 297,300
• C) 160,600
• D) 146,000

---

Definitions:

Front-Wheel Drive

A vehicle configuration where the engine's power is transmitted to the front wheels, providing propulsion.

RWD Configuration

A vehicle drivetrain layout where the rear wheels receive power from the engine, offering benefits in handling and traction under certain conditions.

Input Shaft

The shaft that transmits power from the source (such as an engine or motor) into a gearbox or mechanism.

Splined

Describing a type of connection or shaft that uses ridges or teeth to transfer torque between components, ensuring alignment and resistance to slippage.