Question: On October 1 , 2 0 2 4 , Colts Corporation declared and issued a 1 4 % stock dividend. Before this date, Colts had

On October 1,2024, Colts Corporation declared and issued a 14% stock dividend. Before this date, Colts had 81,000 shares of $5 par common stock outstanding. The market price of Colts Corporation on the date of declaration was $10 per share. As a result of this dividend, Colts' retained earnings will
Multiple Choice
decrease by $115,400.
not change.
increase by $113,400.
decrease by $113,400.
On October 1 , 2 0 2 4 , Colts Corporation

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