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Sheridan Company has 567000 shares of $10 par value common stock outstanding. During the year,...

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Accounting

Sheridan Company has 567000 shares of $10 par value common stock outstanding. During the year, Sheridan declared a 16% stock dividend when the market price of the stock was $31 per share. Four months later Sheridan declared a $0.50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by

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