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What chief retained earnings will

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Question 1: On October 1, 2011, Chief Corporation declared and issued a 10% stock dividend. Prior to this date, Chief had 80,000 shares of $1 par common stock outstanding. The market value of Chief Corporation on the date of the declaration was $5 per share. As a result of this dividend, Chief's retained earnings will

(10%x80Kx$5)

Decrease by $80,000.

Decrease by $40,000

Reference no: EM132523210

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