Stock dividend-effect on book value Olympic Corporation has 75,000 shares of $1 par value stock outstanding. The largest single stockholder is Lou Cheng, who owns 6,000 shares
On December 31, the total assets of the company amount to $4,360,000 and total liabilities to $2,230,000. On that date, the board of directors declared a stock dividend of one new share for each five shares outstanding. Compute the following:
What will be an ideal response?
(a) $28.40
(b) $23.67
(c) $170,400
(d) $170,400
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