Martin Co.is paying a $1.10 per share dividend today.There are 120,000 shares outstanding with a par value of $1 per share.As a result of this dividend,the:
A) retained earnings will decrease by $120,000.
B) retained earnings will decrease by $132,000.
C) common stock account will decrease by $120,000.
D) common stock account will decrease by $132,000.
E) capital in excess of par value will decrease by $132,000.
Correct Answer:
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