DuBois, Inc. announces a large stock dividend of 65% of the 4.96 million outstanding shares of common stock. The current price per share is $13.85. Par value of the stock is $0.01 per share.
What effect does this dividend have on retained earnings?
A) $ 49,600 decrease
B) $ 32,240 decrease
C) $44,652,000 decrease
D) $11,591,288 decrease
E) None of the above
Correct Answer:
Verified
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