Problem
Gordon Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $11.50 per share.
common stock $8 par, 100,000 shares authorized 40,000 shares issue - $320000
Paid in capital in excess of par - common - $150,000
Retained earning $330,000
Total Stockholders Equity - $800,000
What would be the balance in the Common Stock account after the issuance of a 10% stock dividend?
$300,000
$288,000
$352,000
$320,000.