The following account balances appear on the balance sheet of Osgood Industries:
Common Stock (300,000 shares authorized,$100 par): $10,000,000
Paid-In Capital in Excess of Par-Common Stock: $2,000,000
Retained Earnings: $45,000,000
The board of directors declared a 2% stock dividend when the market price of the stock was $135 a share.
Required:
Definitions:
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