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ABC Company has 700,000 shares authorized and 150,000 shares issued and outstanding of $3 par value common stock. The current market price of the stock

ABC Company has 700,000 shares authorized and 150,000 shares issued and outstanding of $3 par value common stock. The current market price of the stock is $50 per share. On December 1, 2020, the company declared and issued a 40% stock dividend. Show your work for credit (8 points): Provide the journal entry when the stock dividend was issued, 2 points: After the stock dividend, determine the new value for each of the following items, 6 points: a. # of Shares Outstanding b. Par Value c. Market Price/Share

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