Riverton, Inc. declares a small stock dividend of 8.0% of the outstanding shares of common...
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Accounting
Riverton, Inc. declares a small stock dividend of 8.0% of the outstanding shares of common stock. Currently, Riverton, Inc. has 1,500,000 shares of $1 par value common stock outstanding. The current market price of the stock is $121.28 per share. Riverton Partners will record a stock dividend in the amount of:
Select one:
A. $ 1,300,000
B. $98,540,000
C. $13,613,600
D. $14,553,600
E. None of the above
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