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on January 31,2009,Village Bank had 500000 shares of $2 par value common stock outstanding. On that date the company declared a 14% stock dividend when the market price of the stock was $37 per share.
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on January 31,2009,Village Bank had 500000 shares of $2 par value common stock outstanding. On that date the company declared a 14% stock dividend when the market price of the stock was $37 per share. The immediate effect of this dividend upon Village Bank was?​

User Alani
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A reduction in retained earnings of $2,950,000.

$37(500,000 x .14) = &2,590,000
User Overdose
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