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How much will retained earnings be reduced and what is the

Stock Dividend. The Benson Corporation has 9,000 shares of common stock having a par value of $120 outstanding. A 10 percent stock dividend is declared. The fair market value of the stock is $124 per share.

(a) By how much will retained earnings be reduced? (b) What is the par value of the common stock to be issued? (c) What is the paid-in capital on common stock?

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