On December 31, 2019, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value; authorized 60,000 shares; outstanding 18,000 shares) Contributed surplus Retained earnings $180,000 11,300 68,000 On February 1, 2020, the board of directors declared a 8 percent stock dividend to be issued on April 30, 2020. The market value of the shares on February 1, 2020, was $14.50 per share. Required: 1. For comparative purposes, prepare the shareholders' equity section of the balance sheet (a) immediately before the stock dividend and (b) immediately after the stock dividend. (Amounts to be deducted should be indicated with a minus sign.) Shareholders' Equity Before Stock Adjustment Stock Dividond Dividend Alter Contributed capital Common shares Contributed surplus Retained earnings Total contributed capital $ 180,000 11,300 68,000 259,300 0 0 Total shareholders' equity $ 259,300 $ 0 $ 0