PART C: DIVIDENDS The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2017 is as follows: Stockholders' Equity Common stock, $5 par value; authorized, 2,000,000 shares; issued, 600,000 shares Paid-in capital in excess of par Retained earnings $3,000,000 850,000 4 500,000 The following events occurred during 2018: Declared a cash dividend of 20 cents per share, payable February 15 to stock- holders of record on February 5. 600,000 shares of common stock are outstanding 1. Jan. 16 2. Feb. 15 Paid Jan 16 cash dividend. A30% stock dividend was declared. Fair value per share is currently $15. (Hint: 600,000 shares of common stock are outstanding.) 3, March 1 4. March 15 Issued March 1 stock dividend. 5. April 1 A two-for-one split was carried out. The par value of the stock was to be reduced 6. July 1 A 15% stock dividend was declared and issued. Fair value is currently $10 per to $2.50 per share. Fair value on March 31 was $18 per share. share. (Hint: 780,000 shares of common stock are outstanding.) PART C: DIVIDENDS The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2017 is as follows: Stockholders' Equity Common stock, $5 par value; authorized, 2,000,000 shares; issued, 600,000 shares Paid-in capital in excess of par Retained earnings $3,000,000 850,000 4 500,000 The following events occurred during 2018: Declared a cash dividend of 20 cents per share, payable February 15 to stock- holders of record on February 5. 600,000 shares of common stock are outstanding 1. Jan. 16 2. Feb. 15 Paid Jan 16 cash dividend. A30% stock dividend was declared. Fair value per share is currently $15. (Hint: 600,000 shares of common stock are outstanding.) 3, March 1 4. March 15 Issued March 1 stock dividend. 5. April 1 A two-for-one split was carried out. The par value of the stock was to be reduced 6. July 1 A 15% stock dividend was declared and issued. Fair value is currently $10 per to $2.50 per share. Fair value on March 31 was $18 per share. share. (Hint: 780,000 shares of common stock are outstanding.)