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What will be the common stock account after stock dividend

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Problem 1: Francis Forensic Inc. has 500,000 shares outstanding. The shares were issued for $10. The stock is currently selling for $40. Francis Forensic has $6,000,000 in retained earnings and has declared a stock dividend that will increase the number of outstanding shares by 10%. What will be the common stock account after the stock dividend?

Select one:

A. $20,000,000
B. $5,500,000
C. $6,600,000
D. $22,000,000

Reference no: EM132769639

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