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Swifty Corporation has 505000 shares of $10 par value common stock outstanding. During the year...

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Accounting

Swifty Corporation has 505000 shares of $10 par value common stock outstanding. During the year Swifty declared a 13% stock dividend when the market price of the stock was $34 per share. Three months later Swifty declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by

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