On June 30,2015,Rangers Inc.showed the following data on the equity section of their balance sheet: On July 1,2015,the company declared and distributed a 5% stock dividend.The market value of the stock at that time was $13 per share.Following this transaction,what would be the new balance in Paid-In Capital in Excess of Par-Common?

Question

On June 30,2015,Rangers Inc.showed the following data on the equity section of their balance sheet:  On July 1,2015,the company declared and distributed a 5% stock dividend.The market value of the stock at that time was $13 per share.Following this transaction,what would be the new balance in Paid-In Capital in Excess of Par-Common?

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The Answer of On June 30,2015,Rangers Inc.showed the following data on the equity section of their balance sheet:  On July 1,2015,the company declared and distributed a 5% stock dividend.The market value of the stock at that time was $13 per share.Following this transaction,what would be the new balance in Paid-In Capital in Excess of Par-Common?