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On October 1st Martin Corp have the following balance in stockholders’ equity
Common stock, $5 par value 400,000
Paid in Capital in excess of par 25,000
Retained earnings 155,000
Total SE 580,000
On October 1 Martin declares and distributes a 10% stock dividend when the market price of the stock is $15 per share
What are the balances in the three stockholders equity accounts after the new shares have been distributed?
What, if any, is the new par value?
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