On December 15, 2021, Tripod Inc.s stock was trading at $3 per share and had the following balances in their equity accounts:

Common Stock ($0.10 Par) 1,000,000

Paid-in-Capitalexcess of par, common 6,780,000

Retained Earnings 4,672,000

a. (4%) If Tripod declared and paid a 30% stock dividend, what is the impact of the dividend on Retained Earnings and Paid-in-Capital?

b. (4%) If Tripod declared and paid a 20% stock dividend, what is the impact of the dividend on Retained Earnings and Paid-in-Capital?

c. (6%) Instead of declaring a stock dividend, Tripod Inc. declared a property dividend of the companys investment in Bad Investments on December 15, 2021. The carrying value of the Bad Investments stock is $6,000,000 and the fair market value is $5,000,000. Prepare the journal entries related to the property dividend declaration.

d. (2%) Prepare the journal entry to record the property dividend payment.