A strategy is: Multiple Choice an action plan to maximize rewards in the current period in return for big risks. a procedure for allocating resources among functions in the organization. an action plan to achieve specific long-term goals and objectives. an action plan to achieve specific operational and tactical goals. a vision of the future of an organization.

Randall's, inc. has 20,000 shares of stock outstanding with a par value of $1.00 per share. the market value is $12 per share. the balance sheet shows $42,000 in the capital in excess of par account, $20,000 in the common stock account, and $50,500 in the retained earnings account. the firm just announced a 5 percent (small) stock dividend. what will the balance in the retained earnings account be after the dividend?