The Martin Company's stockholders' equity accounts have the following balances as of December 31, 2010: On January 2, 2011, the board of directors of Martin declared a 10% stock dividend to be distributed on February 15, 2011.The market price of Martin Company's common stock was $65 per share on January 2, 2011.On the date of declaration, the retained earnings account should be decreased by

Question

The Martin Company's stockholders' equity accounts have the following balances as of December 31, 2010:  On January 2, 2011, the board of directors of Martin declared a 10% stock dividend to be distributed on February 15, 2011.The market price of Martin Company's common stock was $65 per share on January 2, 2011.On the date of declaration, the retained earnings account should be decreased by

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The Answer of The Martin Company's stockholders' equity accounts have the following balances as of December 31, 2010:  On January 2, 2011, the board of directors of Martin declared a 10% stock dividend to be distributed on February 15, 2011.The market price of Martin Company's common stock was $65 per share on January 2, 2011.On the date of declaration, the retained earnings account should be decreased by

The Martin Company's Stockholders' Equity Accounts Have the Following Balances