Delicious Deserts Inc reported the following statement of changes in shareholders equity for the year ended June 30, 2016. The company was founded in 2011 and issued 455 million common shares. There had been no further share transactions until 2016.

Delicious Deserts Inc.
Statement of Changes in Shareholders Equity
For the Year Ended June 30, 2016
(in millions)	Common Shares	Retained Earnings	Total
Balance, June 30, 2015, 455 shares outstanding	$2,275	$1,702	$3,977
Net income		540	540
Cash dividends		(117)	(117)
Issuance of shares (5 shares)	50		50
Stock dividend (36 shares)	186	(186)	-
Issuance of shares (2 shares)	20		20
Balance, June 30, 2016	$2,531	$1,939	$4,470

Requirements

1. The income tax rate is 33%. How much income before income tax did Delicious Deserts report on the income statement?

2. What is the stated value of a common share at June 30, 2015?

3. At what price per share did Delicious Deserts issue its common shares during the year?

4. Delicious Deserts statement of changes in shareholders equity lists the share transactions in the order in which they occurred. What was the percentage of the stock dividend? Round to the nearest percentage.