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Question #7: At the end of the year, the records of Nortech Corporation provided the following selected and incomplete data:

Common shares, no par value
Shares authorized, 200,000
Shares issued, ? ;issue price $17 per share; cash collected in full	$	2,125,000
Net earnings		118,000
Dividends declared and paid		75,000
Prior-period error, correction of an accounting error (a credit, net of income tax)		9,000
Retained earnings, beginning balance		155,000

Required: 1. Complete the following tabulation: Shares authorized Shares issued Shares outstanding 2. Calculate the amount of Earnings per share. (Round the final answer to 2 decimal places.) Earnings per share 3. Calculate the amount of Dividend paid per common share. (Round the final answer to 2 decimal places.) Dividend per common share 4. Complete the following. The prior period error should be reported on the 5. Calculate the amount of retained earnings available for dividends at the beginning of the year. Retained earnings available for dividends Assume that the board of directors voted for a 100 percent stock split (the number of shares will double). 6-a. After the stock split, calculate the average issue price per share? (Round the final answer to 2 decimal places.) Average issue price 6-b. After the stock split, calculate the number of outstanding shares? Shares outstanding Assume that the company declared a 100 percent stock dividend instead of the 100 percent stock split. The market price of the common share was $21 when the dividend was declared. 7-a. If the company issues 100% stock dividend instead of issuing a two-for-one stock split, will the stock dividend affect any components of shareholders' equity? O Yes O No 7-b. Prepare the journal entry for the declaration of 100 percent 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 entry for issuing 100% Stock dividend. Note: Enter debits before credits. Transaction General Journal Debit Credit 1