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MacDowell Corp. has 100,000 shares outstanding with a par value of $2. On March 3,...

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Accounting

MacDowell Corp. has 100,000 shares outstanding with a par value of $2. On March 3, it declared a 100% stock dividend, when its stock price was $15. As a result of this stock dividend, retained earnings:

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O decreased by $1,500,000 O decreased by $200,000. increased by $1,500,000. O increased by $100,000

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