Martin co is paying a 110 per share dividend today there, Financial Management

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Martin co is paying a 110 per share dividend today there

Martin Co. is paying a $1.10 per share dividend today. There are 120,000 shares outstanding with a par value of $1 per share. As a result of this dividend, the:

capital in excess of par value will decrease by $132,000.

common stock account will decrease by $132,000.

retained earnings will decrease by $132,000.

common stock account will decrease by $120,000.

retained earnings will decrease by $120,000.

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