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Please post all steps and formulas uring 2023, the following transactions occurred: May 10: Declared a 10% common stock dividend when market value was $40

Please post all steps and formulas

uring 2023, the following transactions occurred: May 10: Declared a 10\% common stock dividend when market value was $40 per share August 31: Issued the stock dividend declared on May 10. December 10: Declared a cash dividend of $2.50 per share to be paid in January 2024. December 31: Recognized net income of $1,087,000

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