Information taken from Jamestown Corp.’s balance sheet as of April 1, 2017, follows:

On April 1, Jamestown declares and distributes a 10% share dividend. The market value of the shares on this date is $25. Prepare the equity section for Jamestown immediately following the share dividend (assume all dividends are debited directly to Retained Earnings).

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Common shares, 375,000 shares authorized, 150,000 shares issued and outstanding.... Retained earnings.......... $1,102,500 633,000