Question: Alexander, Inc., declared and distributed a 10 percent stock dividend on its 700,000 shares of outstanding $5 par value common stock when the stock was

Alexander, Inc., declared and distributed a 10 percent stock on its 700,000 shares of outstanding $5 when the stock was selling for $12 per share. The out-standing shares had originally been sold at $8 per share. The balance in retained earnings before the declaration of the stock but after the addition of the current year’s net income, was $995,000. Prepare the stockholders’ section of Alexander’s to reflect these facts.

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