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Unformatted text preview: distributable on July 17th to stockholders of record on June 9th when the stock is selling for $20 per share. Before the dividend, the company's balance sheet had the following stockholders' equity section: Common Stock, $3 par value, 1,500,000 shares authorized, 500,000 shares issued and outstanding $1,500,000 Additional Paid-in-Capital 6,000,000 Retained Earnings 2,325,000 Total stockholders' equity $9,825,000...
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- Spring '09