Instructions Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (800,000 shares authorized; 460,000 shares issued), $4 par, $1,840,000; Paid-in capital in excess of par-common stock, $800,000; and Retained earnings, $31,940,000. The board of directors declared a 2% stock dividend when the market price of the stock was $12 a share. Senior Life Co. reported no income or loss for the current year. Required: A. Journalize the entries to record (1) the declaration of the dividend on December 1, capitalizing an amount equal to market value, and (2) the issuance of the stock certificates on December 31. Refer to the Chart of Accounts for exact wording of account titles. B. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders'equity. C. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Journal Shaded cells have feedback. A. Journalize the entries to record (1) the declaration of the dividend on December 1, capitalizing an amount equal to market value, and (2) the issuanced certificates on December 31. Refer to the Chart of Accounts for exact wording of account titles. Question not attempted. JOURNAL Score: 0/63 ACCOUNTING DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABIL 1 2 3 4 5 Points: Final Questions Shaded cells have feedback. B. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Total paid-in capital $ Total retained earnings $ Total stockholders' equity $ Points: 0/3 Feedback Check My Work affect does a dividend have on the equity accounts? Identify the balances of all equity accounts befor the stock divide What account(s) would increase and what account(s) would decrease? C. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Total paid-in capital $ Total retained earnings $ Total stockholders' equity $