Lavender inc announces a large stock dividend of 65 of the, Ask an Expert

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Lavender, Inc. announces a large stock dividend of 65% of the 3.1 million outstanding shares of common stock. The current price per share is $8.85. Par value of the stock is $0.01 per share. What effect does this dividend have on retained earnings?

$31,000 decrease

$20,150 decrease

$17,832,750 decrease

$11,591,288 decrease

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91595881

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