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What was the impact of the stock dividend

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Question - On January 1, Rygel Corporation had 40,000 shares of $15 par common stock outstanding. On February 1, when its stock was trading for $46 per share, Rygel corporation declared a 50% stock dividend. What was the impact of the 50% stock dividend on the balance of the retained earnings account?

Reference no: EM132513695

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