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Business, 26.11.2021 05:30 leo4687

The stockholders' equity of Anamanda Company at September 30, 2008, is presented below: Common Stock, par value $10, authorized 500,000 shares; 200,000 shares
issued and outstanding$2,000,000
Paid-In Capital in Excess of Par300,000
Retained Earnings 1,300,000
$3,600,000

On October 1, 2008, the Board of Directors of Anamanda declared a 10% stock dividend to be distributed on November 10. The market price of the common stock was $15 on October 1 and $17 on November 10. What is the amount of the charge to retained earnings as a result of the declaration and distribution of this stock dividend?
a.$0
b.$200,000
c.$300,000
d.$340,000
e.$750,000

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