3 The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2017 is as follows: Stockholders' Equity Common stock, $5 par value; authorized, 1,900,000 shares; issued, 380,000 shares $1,900,000 Paid-in capital in excess of par 837,000 Retained earnings 3.070,000 $5,807,000 The following events occurred during 2018: 1. Jan. 29,000 shares of authorized and unissued common stock were sold for $9 per share. 5 2. Jan. Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders 16 of record on February 5. 3. Feb. 40,000 shares of authorized and unissued common stock were sold for $13 per share. 10 A 30% stock dividend was declared and issued. Fair value per share is currently $14. 4. March 1 5. April A two-for-one split was carried out. The par value of the stock was to be reduced to 1 $2.50 per share. Fair value on March 31 was $18 per share 6. July A 15% stock dividend was declared and issued. Fair value is currently $10 per share. 7. Aug. A cash dividend of 20 cents per share was declared, payable September 1 to 1 stockholders of record on August 21, Enter the above events into the following work sheet showing how each event affects the column. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter o for amounts. + Explore Common Stock Item No. of Shares Issued Total Par Value Paid-in Capital in Excess of Par Retained Earnings S $ $ Beginning Balance--1/1/18 Event #1 --Jan. 5 Balance S $ $ Event # 2-Jan. 16 Balance $ $ $ Event #3--Feb. 10 Balance $ $ $ Event #4 -- March 1 Balance S $ $ Event #5--April 1 Balance S $ $ 2 of 2 Event #6-July 1 Balance S S $ Event #7--Aug. 1 Balance S $ $ 3 The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2017 is as follows: Stockholders' Equity Common stock, $5 par value; authorized, 1,900,000 shares; issued, 380,000 shares $1,900,000 Paid-in capital in excess of par 837,000 Retained earnings 3.070,000 $5,807,000 The following events occurred during 2018: 1. Jan. 29,000 shares of authorized and unissued common stock were sold for $9 per share. 5 2. Jan. Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders 16 of record on February 5. 3. Feb. 40,000 shares of authorized and unissued common stock were sold for $13 per share. 10 A 30% stock dividend was declared and issued. Fair value per share is currently $14. 4. March 1 5. April A two-for-one split was carried out. The par value of the stock was to be reduced to 1 $2.50 per share. Fair value on March 31 was $18 per share 6. July A 15% stock dividend was declared and issued. Fair value is currently $10 per share. 7. Aug. A cash dividend of 20 cents per share was declared, payable September 1 to 1 stockholders of record on August 21, Enter the above events into the following work sheet showing how each event affects the column. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter o for amounts. + Explore Common Stock Item No. of Shares Issued Total Par Value Paid-in Capital in Excess of Par Retained Earnings S $ $ Beginning Balance--1/1/18 Event #1 --Jan. 5 Balance S $ $ Event # 2-Jan. 16 Balance $ $ $ Event #3--Feb. 10 Balance $ $ $ Event #4 -- March 1 Balance S $ $ Event #5--April 1 Balance S $ $ 2 of 2 Event #6-July 1 Balance S S $ Event #7--Aug. 1 Balance S $ $