Murphy's, Inc., has 55,000 shares of stock outstanding with a par value of $1 per...
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Finance
Murphy's, Inc., has 55,000 shares of stock outstanding with a par value of $1 per share. The market value is $12 per share. The balance sheet shows $71,500 in the capital in excess of par account, $55,000 in the common stock account, and $135,500 in the retained earnings account. The firm just announced a stock dividend of 11 percent. What will the balance in the capital in excess of par account be after the dividend?
$182,600
$144,100
$68,950
$138,050
$132,000
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