Draper company is authorized to issue 600000 shares of 5

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Draper Company is authorized to issue 600,000 shares of $5 par value common stock. By March 15, 2011, the company had issued 180,000 shares at $17 per share. On March 15, 2011, the company declared a 10% stock dividend when the market price was $20 per share. What amount is transferred from retained earnings to paid-in capital as a result of the stock dividend?

Reference no: EM13596145

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