On August 31,2010 Gilliam Corporation's Common Stock Is Priced at $50

question 23

Short Answer

On August 31,2010 Gilliam Corporation's common stock is priced at $50 per share before any stock dividend,and the stockholders' equity section of its balance sheet appears as follows.Assume that the company declares and immediately distributes a 35% stock dividend.
$\begin{array}{lr}\text { Common stock- } \$ 7 \text { par value, } 95,000 \text { shares authorized, } 44,000 \text { shares }\\\text { issued and outstanding } & \$ 308,000 \\ \text { Paid-in capital in excess of par value, common stock } & 100,000 \\ \text { Retained earnings } & 375,000 \\ \text { Total stockholder's equity } & \$ 783,000\end{array}$

What is the total amount in the Retained Earnings account immediately after the stock dividend?

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