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(7 points) On January 1,2018 , Harrison Inc. had the following account balances in its shareholders' equity accounts. During 2018, Thomson Inc. had several transactions

image text in transcribed (7 points) On January 1,2018 , Harrison Inc. had the following account balances in its shareholders' equity accounts. During 2018, Thomson Inc. had several transactions relating to common stock. 2/10 Declared a property dividend, payable in Welch company stock. The Welch stock had been purchased early in 2017 for $30,000 and was reported as an asset a fair value of $35,000 on 12/31/2017 balance sheet. The market value of Welch stock is $38,000 on 2/10/2018. 3/17 Distributed the property dividend. 3/20 Reissued 5,000 shares of treasury stock at $5 per share. 4/17 Declared a 3 for 1 stock split on common stock effective 4/24. 7/18 Declared and distributed a 10% stock dividend on outstanding common stock; market value per share, $7. 11/1 Declared a $0.5 per share cash dividend on the outstanding common shares. 11/25 Ex-dividend date for the cash dividend 11/29 Date of record for the cash dividend. 12/20 Paid the cash dividend declared on 11/1. Required

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