Doug Graves Cemetery had 50,000 common shares issued and outstanding as of January 1, 2018. During 2018, Graves took the following actions: June 1 Declared a 2-for-1 stock split, when the fair value of the shares was $25 per share. October 15 Declared a cash dividend of $0.40 per share. On Graves' 2018 statement of stockholders' equity, how much must Graves report as dividends?

Answer rating: 100% (QA)

Since a 2for1 stock split was declared on June 1 the number of common shares outstanding would ... View the full answer