Exercise 8-15A (Algo) Accounting for stock dividends LO 8-7 Beacon Corporation issued a 3 percent stock dividend on 23,000 shares of its $8 par common stock. At the time of the dividend, the market value of the stock was $28 per share. Required a. Compute the amount of the 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 (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below