Question: Eagle Corp declares a 6 0 % stock dividend on its 1 0 0 , 0 0 0 common shares outstanding. Just prior to the

Eagle Corp declares a 60% stock dividend on its 100,000 common shares outstanding. Just prior to the declaration of the dividend Eagle Corp's common stock had a $3 par value and a $20 market value. What amount of retained earnings should be transferred to the common stock account?

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