Beacon Corporation issued a 3 percent stock dividend on 24,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $24 per share Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element was not affected by the event.) Complete this question by entering your answers in the tabs below Required A Required B Show the effects of the stock dividend on the financial statements using a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element was not affected by the event. Enter any decreases to account balances with a minus sign.) Show less BEACON CORPORATION Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets Liabilities Stockholders' Equity Expense-Net Income Common+Excess Retained Earnin Cash Stock (12,240)- (12.240)| + (12,240) IFA