On June 30, 2018, Padres, Inc. showed the following data on the equity section of their balance sheet:
On July 1, 2018, the company declared and distributed a 10% stock dividend. The market value of the stock at that time was $15 per share. Following this transaction, what is the number of shares issued?
A) 86,500
B) 297,300
C) 160,600
D) 146,000
C) 160,600
Explanation: Calculations: (146,000 × 10%) + 146,000 = 160,600 shares
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