12 Douglas McDonald Company's balance sheet included the following shareholders' equity accounts at December 31, 2020: 3.37 points Paid-in capital: eBook Hint References Common stock, 1,000 million shares at $1 par Paid-in capital-excess of par Retained earnings Total shareholders' equity ($ in millions) $ 1,000 16,000 15,038 $32,038 On March 16, 2021, a 4% common stock dividend was declared and distributed. The market value of the common stock was $23 per share. Fractional share rights represented 4 million equivalent whole shares. Cash was paid in lieu of the fractional share rights. Required: 1. Complete the below table to calculate the value of shares issued. 2. Prepare the appropriate entries for the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the below table to calculate the value of shares issued. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Stock Dividend Number of outstanding shares Prov 12 of 12 Next He 12 3.37 points eBook 2. Prepare the appropriate entries for the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the below table to calculate the value of shares issued. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Hint Stock Dividend References Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued Value of stock dividend $ 0 Amount paid in cash for fractional shares Value of shares issued $ 0 Required 1 Required 2 > < Prev 12 of 12 Next A 12 3.37 points eBook Hint References Mc Graw Hill 2. Prepare the appropriate entries for the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate entries for the declaration and distribution of the stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet > 1 Record the declaration and distribution of the stock dividend. Note: Enter debits before credits. Event 1 General Journal Debit Credit < Prev 12 of 12 Next