Question Assignment description
On July 1, 20×5, Blaylock Company had 40,000 shares of its $100 par worth widespread inventory excellent. On July 2, 20×5, Blaylock declared a 15 p.c inventory dividend to be distributed on August 6, 20×5, to shareholders of document on July 16, 20×5. What quantity of retained earnings ought to be transferred to contributed capital due to this dividend?