- Normal No Spacing Headin Heading 1 par d. $3,100 24. On January 1, McCarver Corporation had 800,000 shares of $10 value common stock outstanding. On March 31 the company declared a 10% stock dividend. Price per share of stock was $15/share. As a result of this event: a. Paid-in Capital in Excess of Par Value account increased $400,000 b. Total stockholders' equity decreased by $1,200,000. c. Retained earnings increased by $1,200,000 d. Paid-in Capital in Excess of Par Value account increased $400,000.. 25. Stock dividends and stock splits have the following effects on retained earnings: Stock Splits Stock Dividends a. Increase No change b. No change Decrease c. Decrease Decrease I d. No change No change 26. Outstanding stock of the Teltronic Corporation included 40,000 shares of $5 par common stock and 20,000 shares of 5%, $10 par cumulative preferred stock. In 2019, Hall declared and paid dividends of $8,000. In 2020, Hall declared and paid dividends of $24,000. How much of the 2020 dividend was distributed to preferred shareholders? a. $10,000. b. $12,000 c. $14,000 d. None of these answer choices are correct