On June 30,2017,Martin Brothers,Inc.showed the following data on the equity section of their balance sheet:
On July 1,2017,the company declared and distributed a 9% stock dividend.The market value of the stock at that time was $16 per share.Following this transaction,what is the balance of Paid-In Capital in Excess of Par-Common?
Definitions:
Earnings Per Share
A key financial indicator that quantifies a company's net profit divided by the number of common shares it has outstanding.
Discontinued Operation
A segment of a company's business that has been sold, ceased, or abandoned and is reported separately on the income statement.
Income Statement
A financial statement that shows a company's revenues and expenses over a specific period, determining profit or loss for that period.
Continuing Operations
Parts of a business that are expected to continue operating into the foreseeable future.
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