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Tom owns 2,000 shares of common stock in Phillips, Inc. These shares represent a 5%...

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Accounting

Tom owns 2,000 shares of common stock in Phillips, Inc. These shares represent a 5% interest in the company. If Phillips issues a 10% stock dividend (a) how many shares will Phillips own after the dividend, and (b) what percentage ownership will he have in the company?

Select one:

2200 shares; 5% ownership

2200 shares; 5.5% ownership

2100; 5% ownership

2100; 5.5% ownership

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