Asian Food Specialties Inc. reported the following statement of changes in shareholders' equity for the year ended June 30, 2020. The company was founded in 2017 and issued 455 million common shares. There had been no further share transactions until 2020

{Requirements}
Answer these questions about Asian Food Specialties's shareholders' equity transactions:
1. If the company's income tax rate is \(33 \%\), how much income before income tax did Asian Food Specialties report on the income statement?
2. What is the stated value of a common share at June 30, 2019?
3. At what price per share did Asian Food Specialties issue its common shares during the year?
4. Asian Food Specialties's statement of changes in shareholders' equity lists the share transactions in the order in which they occurred. What was the percentage of the stock dividend?

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(in millions) Balance, June 30, 2019 455 shares outstanding.. Net income.. Cash dividends. Asian Food Specialties Inc. Statement of Changes in Shareholders' Equity Issuance of shares (5 shares). Stock dividend (36 shares).... Issuance of shares (2 shares). Balance, June 30, 2020. For the Year Ended June 30, 2020 Common Shares $2,275 Retained Earnings Total $1,702 $3,977 540 540 (117) (1177 50 50 186 (186) 201 20 $2,531 $1,939 $4,470