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Nice International originally issued 105,000 shares of common stock at a price of $22 per share. A ...

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Nice International originally issued 105,000 shares of common stock at a price of $22 per share. A ...

Nice International originally issued 105,000 shares of common stock at a price of $22 per share. A year later, it distributed a 12% stock dividend to shareholders. At the time of the stock dividend, the share price had increased to $27 per share. Which of the following statements is true?
A) Nice will record sales revenues of $277,200.
B) Nice will record a gain of $63,000.
C) Nice will record a loss of $63,000.
D) Nice will record neither a gain nor a loss.

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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YES! Can't believe I got this one right. Appreciate the confirmation

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