Chapter 10 Review Answer the following questions related to Spaniel Company's stockholders' equity section of their balance sheet: Common stock, $5 par value, 200,000 shares authorized $ 424.000 Paid-in capital in excess of par, common 229.000 653,000 Retained earnings 367.000 Total stockholders' equity $1.020,000 | Common stock is currently selling for $11.50 per share. 1. How many shares of common stock have been issued? 2. What was the average issue price of the stock? 3. Prepare the entry for a 15% common stock dividend: 4. Immediately after the 15% common stock dividend is declared and distributed, determine: Total paid-in capital $ Total stockholders' equity $ 5. Soon after distributing the common stock dividend, the company pays a dividend of $.55 per share. What is the total amount of dividends paid? 6. Now assume instead of paying a stock dividend, the company purchases 500 of its own common stock for $12 per share. Subsequently the company reissues 250 shares for $15 per share. What is the balance in Common Stock after these two transactions are recorded? 7. On a later date, when there are 110,000 shares of stock issued and outsanding, Spaniel declares and distributes a 30% (large) stock dividend. The market price on that date is $15/share. Prepare the entry for the large stock dividend