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Business, 01.04.2021 19:20 iretae

Testbank Multiple Choice Question 106 Sheffield Corp. has 640000 shares of $10 par value common stock outstanding. During the year Sheffield declared a 15% stock dividend when the market price of the stock was $50 per share. Two months later Sheffield declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by:

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