7 On 1 January 20X5, Dolphin Operations Ltd. reported the following in shareholders' equity: 11 points Common shares, no-par value; authorized, unlimited shares; issued, 2,200,000 shares Retained earnings $ 6,600,000 19,000,000 $25,600,000 00:19:00 eBook In 20X5, the company declared and issued a 10% stock dividend. The stock dividend was to be valued at $5 per share. The dividend resulted in a number of full shares being issued, but also there were 10,000 shares to be issued as fractional shares. References Required: 1. Prepare all journal entries for the stock dividend in 20X5. The dividend is recorded when issued. Fractional share rights are issued for fractional shares. One month after issuance, 60% of the rights are exercised and 40% lapse. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list X > 1 Record the issue of stock dividend and fractional share rights. 2 Record the entry to exercise and lapse of fractional share rights. Credit MU Note : = journal entry has been entered Dacard antra Clear entrar Viewsoneraliournal 2. Repeat requirement 1, assuming cash is distributed in lieu of fractional shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the issue of stock dividend and cash payment in lieu of fractional shares. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 3. Calculate the balances in the equity accounts, after the effects of the transactions in requirement 1. Common shares Contributed capital on lapse of rights Retained earnings