Douglas McDonald Company?s balance sheet included the followingshareholders? equity accounts at December 31, 2020:

	($ in millions)
Paid-in capital:
Common stock, 1,800 million shares at $1 par	$	1,800
Paid-in capital?excess of par		17,600
Retained earnings		16,238
Total shareholders? equity	$	35,638

On March 16, 2021, a 4% common stock dividend was declared anddistributed. The market value of the common stock was $39 pershare. Fractional share rights represented 2 million equivalentwhole shares. Cash was paid in lieu of the fractional sharerights.Required:1. Complete the below table to calculate the value of sharesissued.2. Prepare the appropriate entries for the declaration anddistribution of the stock dividend.

Required 1 Required 2 Complete the below table to calculate the value of shares issued. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Stock Dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued Value of stock dividend Amount paid in cash for fractional shares Value of shares issued %