Question: On October 1 , 2 0 2 4 , Liu Corporation declared and issued a 8 % stock dividend. Before this date, Liu had 8

On October 1,2024, Liu Corporation declared and issued a 8% stock dividend. Before this date, Liu had 82,000 shares of $5 par common stock outstanding. The market price of Liu Corporation on the date of declaration was $10 per share. As a result of this dividend, Liu's retained earnings will:
Multiple Choice
increase by $65,600.
not change.
decrease by $67,600.
decrease by $65,600.
On October 1 , 2 0 2 4 , Liu Corporation declared

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