Question: Gannon Inc had 100 000 shares of common stock outstanding During

Gannon, Inc., had 100,000 shares of common stock outstanding. During the current year, the company distributed a 10 percent stock dividend and subsequently paid a $0.50 per share cash dividend. Calculate the number of shares outstanding at the time of the cash dividend and the amount of cash required to fund the cash dividend.

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  • CreatedApril 21, 2014
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