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Business, 28.07.2021 01:20 bryan9892

The Zeller Corporation's stockholders' equity accounts have the following balances as of December 31, 2016: Common stock, $10 par (30,000 shares issued and outstanding) $300,000
Additional paid-in capital 2,000,000
Retained earnings 5,700,000
Total stockholders' equity $8,000,000

Refer to above table. On January 2, 2017, the board of directors of Zeller declared a 5% stock dividend to be distributed on January 31, 2017. The market price per share of Zeller's common stock was $30 on January 2 and $32 on January 31. As a result of this stock dividend, the retained earnings account should be decreased by :

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The Zeller Corporation's stockholders' equity accounts have the following balances as of December 31...
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