Prince Edgar Allan Corporation had issued 75% of its total authorized shares of 80,000 at P50 par value. Before closing the month of June 2022, the Board of Directors decided to repurchased 10% of its outstanding shares for fear of possible takeover. On July 15, The Board decided to declare a15% share dividend. The market price per share during the date of declaration was P60. At the date of distribution, August 30, 2022, the stock is selling at P75 per share and on August 15, the date of record, the price of the share was P68.00 per share? How many are the outstanding shares before the date of declaration & the number of share dividends declared?

Answer rating: 100% (QA)

Lets call the total number of issued shares Issued Issued 75 x 80000 60000 s... View the full answer