At the beginning of 2018, the shareholders equity section of the statement of financial position of Ponti Corporation reflected the following: Common shares, no par value, authorized unlimited number of shares, issued and outstanding 37,000 shares$370,000 Retained earnings 770,000 On February 1, 2018, the board of directors declared a 100 percent stock dividend to be issued on April 30, 2018. The price per common share was $21 on February 1, 2018. 1.For comparative purposes, prepare the shareholders equity section of the statement of financial position (a) before the stock dividend and (b) after the stock dividend.

At the beginning of 2018, the shareholders' equity section of the statement of financial position of Ponti Corporation reflected the following: Common shares, no par value, authorized unlimited number of shares, issued and outstanding 37,000 shares Retained earnings $ 370,000 770,000 On February 1, 2018, the board of directors declared a 100 percent stock dividend to be issued on April 30, 2018. The price per common share was $21 on February 1, 2018. Required: 1. For comparative purposes, prepare the shareholders' equity section of the statement of financial position (a) before the stock dividend and (b) after the stock dividend. Shareholders' Equity Before Stock After Stock Dividend Dividend Share capital: Total shareholders' equity 0 $