On April 2, 2011, Caesar Corporation’s BOD declared a 15% stock dividend for stockholders on record on August 15, 2011, and to be distributable on August 30, 2011. There were 420,000 issued and...

On April 2, 2011, Caesar Corporation’s BOD declared a 15% stock dividend for stockholders on record on August 15, 2011, and to be distributable on August 30, 2011. There were 420,000 issued and 400,000 outstanding ordinary shares, with USD50 par value. The market price per share was USD90 on April 2, 2011, USD95 on August 15, 2011, and USD75 on August 30, 2011. Compute the amount to be deducted from Retained Earnings to cover the 15% stock dividend.