Refer to Exhibit 17-1. On January 2, 2011, the board of directors of Zoeller declared a 30% stock dividend to…
Refer to Exhibit 17-1. On January 2, 2011, the board of directors of Zoeller declared a 30% stock dividend to be distributed on January 31, 2011. The market price per share of Zoeller’s common stock was $30 on January 2 and $32 on January 31. As a result of this stock dividend, the retained earnings account should be decreased by:
