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Determine how stock dividend is declared and distributed

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Reference no: EM132469907

Problem 1: Davidson Company has 10,000,000 common shares issued and 570,000 shares of treasury stock. The stock's par value is $2 per share and its current market price is $32 per share. Which of the following is correct when a 30% stock dividend is declared and distributed?

Group of answer choices

Option 1: Retained earnings will decrease by $80.000 million.

Option 2: Retained earnings will decrease by $5.000 million.

Option 3: Retained earnings will decrease by $75.440 million.

Option 4: Retained earnings will decrease by $5.658 million.

Reference no: EM132469907

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