On September 1, 2020, Wood Co. declares 12% stock dividend on its 80,000 shares of $5 par value common stock outstanding, at that date the stock fair market value was $7. .... 1)Total new number of outstanding shares after the issuance of stock dividend is: * 80,000 shares 89,600 shares 70,400 shares 9,600 shares None of the above .... 2)Common stock dividend distributable in the declaration date is: * Debit $67,200 Debit $48,000 Credit $67,200 Credit $48,000 None of the above ... 3)Stock dividend amount is: * Debit $67,200 Debit $48,000 Credit $67,200 Credit $48,000 None of the above