Question: On August 1, 2018, Towson Corp., declared a 5% stock dividend on its common stock when the market value of the common stock was $18

On August 1, 2018, Towson Corp., declared a 5% stock dividend on its common stock when the market value of the common stock was $18 per share. The balance in the common stock account, before the stock dividend was declared, was $1,000,000. The par value of all common stock is $10. What is the total dollar amount credited to additional paid in capital - common stock on August 1, 2018?

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