Question 15: The issuance of a stock dividend by a company increasesA. retained earnings.B. the number of shares outstanding.C. the current ratio.D. cash.Question 19: On September 1, 20X1, the Trinity Company purchased, on the open market, 10,000 shares of its own fully paid common stock outstanding for $200,000. At the time of this purchase, the Trinity Company had 100,000 shares of common stock outstanding. On October 1, 20X1, the board of directors of the Trinity Company declared a $3 dividend to holders of record on October 10, payable October 15. The unappropriated retained earnings on August 31, 20X1, were $18,210,000. After the payment of the dividend on October 15, retained earnings available for future divi- dends will beA. $17,740,000. B. $17,910,000. C. $17,940,000. D. $18,010,000.
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