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Please fill in the blanks Metlock Company provides you with the following condensed balance sheet information: For each of the following transactions, indicate the dollar
Please fill in the blanks
Metlock Company provides you with the following condensed balance sheet information: For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders' equity. (Each situation is independent.) a. Metlock declares and pays a $0.50 per share cash dividend. (1) Total assets $ (2) Common stock $ (3) Paid-in capital in excess of par $ (4) Retained earnings $ (5) Total stockholders' equity $ c. Metlock declares and issues a 20% stock dividend when the market price of the stock is $14 per share d. Metlock declares and distributes a property dividend. Metlock gives one share of its equity investment (ABC stock) for every two shares of Metlock Company stock held. Metlock owns 10,000 shares of ABC. ABC is selling for $11 per share on the date the property dividend is declared. e. Metlock declares a 3-for-1 stock split and issues new shares. (1) Total assets (2) Common stock (3) Paid-in capital in excess of par (4) Retained earnings (5) Total stockholders' equity $ $ $ $ $Step by Step Solution
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