Beacon Corporation issued a 5 percent stock dividend on 26,500 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $23 per share. Required a. Compute the amount of the stock dividend. Stock dividend b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, Indicate whether the item is an operating activity (OA), Investing activity (A), or financing activity (FA). Use NA to Indicate that an element was not affected by the event. (Amounts to be deducted should be indicated with a minus sign.) Income Statement - Expense = Net Income Assets = Liabilities Balance Sheet + Stockholders' Equity Common PIC in . Retained Stock Excess Earnings Revenue Cash Flow Cash c. Prepare the journal entry to record the stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the stock dividend. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal