Nice International originally issued 116,000 shares of common stock at a price of $25 per...
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Accounting
Nice International originally issued 116,000 shares of common stock at a price of $25 per share. A year later, it distributed a 10% stock dividend to shareholders. At the time of the stock dividend, the share price had increased to $30 per share. Which of the following statements is true?
A.
Nice will record a loss of $58,000.
B.
Nice will record sales revenues of $290,000.
C.
Nice will record a gain of $58,000.
D.
Nice will record neither a gain nor a loss.
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