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The stockholders’ equity portion of Brimstone Tire Company follows:
Common Stock (2.0 million shares at $10 par) $20,000,000
Capital in excess of par 17,000,000
Retained earnings 33,000,000 $70,000,000
The current market value of Brimstone’s stock is $20.
Show what the balance sheet will look like (comparison to above) if Brimstone declares a 10% stock dividend.
