A corporation declared and issued a 20% stock dividend on October 1. The following information was available immediately prior to the dividend: Retained earnings$810,000?Shares issued and outstanding 66,000?Market value per share$21?Par value per share$5?The amount that contributed capital will increase (decrease) as a result of recording this stock dividend is:
A. $(277,200).
B. $(66,000).
C. $66,000.
D. $0.
E. $277,200.
Answer: E
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