What will be the impact on common stock

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Reference no: EM132799036

Question - Concin has the following equity accounts on its balance sheet:

Common stock ($0.25 par, 9 million shares) $2,250,000

Contributed capital in excess of par 89,400,000

Retain earnings 67,503,189

$159,153,189

The current market price for a share of Concin's stock is $24.25. If the firm declares a 10% stock dividend and a $0.06 per share cash dividend, what will be the impact on Common stock on the above equity account?

Reference no: EM132799036

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