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What is the balance of retained earnings

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Question: Stockholders equity accounts in a company have the following balances December 31, 2015:

Common stock, $10 par, 300,000 shares issued and outstanding: $3,000,000

Paid in capital in excess of par- common stock: 1,200,000

Retained earnings: 5,600,000

Shares of the company are currently selling at $37 (fair market value)

A stock dividend of 100% is declared and issued. After the divided, what is the balance of retained earnings?

Reference no: EM132720341

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