The following stock dividends were declared and distributed by Sol Corp.:
align=”left”>
|
Percentage of common share outstanding at declaration date |
Fair value |
Par value |
|
10 |
$15,000 |
$10,000 |
|
28 |
40,000 |
30,800 |
What aggregate amount should be debited to retained earnings for these stock dividends?
- $40,800
- $45,800
- $50,000
- $55,000