(Answered) Assignmentthis question is due nowon june 30 2015 ez

Accounting

Assignment

This question is due now

On June 30, 2015, EZ Financing Inc showed the following data on the equity section of their balance sheet:

Stockholders' equity
Common stock, $1 par 190,000 shares authorized, 140,000 shares issued and outstanding	$140,000
Paid-in capital in excess of par-Common	260,000
Retained earnings	940,000
Total stockholder's equity	$1,340,000

On July 1, 2015, EZ Financing declared and distributed a 5% stock dividend. The market value of the stock at that time was $13 per share. Following this transaction, what would the new balance in Retained Earnings be?

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