13-5

please try to write the answer on the picture , so it will be easy for me to do not confuse.

Retained earnings $25,600,000. The board of directors declared a 2% stock dividend when the market price of the stock was $19 a share. Advanced Life Co. reported no income or loss for the current year. Required: a. Journalize the entries to record (1) the declaration of the dividend on December 1, capitalizing an amount equal to market value, and (2) the issuance of the stock certificates on December 31. Refer to the chart of accounts for the exact wording of the account titles. CNOW/journa/s do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. b. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paidin capital, (2) total retained earnings, and (3) total stockholders' equity. Journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered