Beacon Corporation issued a $4$ percent stock dividend on $24,000$ shares of its $$8$ par common stock. At the time of the dividend, the market value of the stock was $$22$ per share.

Required

a$.$ Compute the amount of the stock dividend.

b$.$ Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities $($OA$),$ investing activities $($IA$),$ or financing activities $($FA$).$