On October 1, 2024, Liu Corporation declared and issued a 7% stock dividend. Before this...
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On October 1, 2024, Liu Corporation declared and issued a 7% stock dividend. Before this date, Liu had 80,000 shares of $5 par common stock outstanding. The market price of Liu Corporation on the date of declaration was $10 per share. As a result of this dividend, Liu's retained earnings will: Multiple Choice decrease by $56,000. not change. decrease by $57,500. increase by $56,000.
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