A corporation had 60,000 shares of $8 par value common stock outstanding on November 1 with no preferred stock issued or outstanding. The company's retained earnings was $250,000 and total stockholders' equity was $800,000. Later that day, the board declared a 10% stock dividend when the market value of each share was $25. Shortly after declaration, the market value fell to $22.50 per share. Sam Lewis owned 350 shares of stock prior to the declaration. After the stock dividend, the total book value of Lewis' stock after receiving additional shares was:

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The Answer of A corporation had 60,000 shares of $8 par value common stock outstanding on November 1 with no preferred stock issued or outstanding. The company's retained earnings was $250,000 and total stockholders' equity was $800,000. Later that day, the board declared a 10% stock dividend when the market value of each share was $25. Shortly after declaration, the market value fell to $22.50 per share. Sam Lewis owned 350 shares of stock prior to the declaration. After the stock dividend, the total book value of Lewis' stock after receiving additional shares was:

A Corporation Had 60,000 Shares of $8 Par Value Common