1. (10 points) A company reports the following stockholders' equity: Common stock, $2 par, 5,000,000 shares authorized Paid-in capital in excess of par, Common stock Total paid-in capital Retained earnings Total stockholders' equity 1300,000 $4,300,000 400.000 $5.700,000 Compute the (1) number of common shares outstanding and (2) book value per common share. 2. (10 points) On August 1, a company's board of directors declared a 10% stock dividend to be distributed on September 1 to the stockholders of record on August 20. The company had 1,000,000 shares of $2.50 par value common stock outstanding with a market value of $23 per share. Prepare the journal entries required on August 1, August 20, and September 1. Date Debit Credit