Problem: Murphy's, Inc. has 55,000 shares of stock outstanding with a par value of $1.00 per share. The market value is $12.00 per share. The balance sheet shows $71,500 in the capital in excess of par account, $55,000 in the common stock account, and $135,500 in the retained earnings account. The firm just announced a 11 percent (small) stock dividend.
Requirement:
Question: What will the balance in the capital in excess of par account be after the dividend?
Note: Please provide full description.