Calculate number of shares outstanding

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Reference no: EM13140800

Gannon, Inc., had 100,000 shares of common stock outstanding. During the current year, the company distributed a 10 percent stock dividend and subsequently paid a $ 0.50 per share cash dividend. Calculate the number of shares outstanding at the time of the cash dividend and the amount of cash required to fund the cash dividend.

Reference no: EM13140800

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