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Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. The corporation has paid several cash dividends throughout Year 6,

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Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. The corporation has paid several cash dividends throughout Year 6, the current year. It is also declaring a stock dividend to its stockholders as the calendar year- end approaches. You've been brought in as a consultant to assist with this process, and also to help determine whether some missing information can be determined before the distribution of the stock dividend is made. The company has two classes of stock: common stock and cumulative preferred stock. You've been able to retrieve the following information so far: Number of common shares authorized Number of common shares issued Par value of common shares Par value of cumulative preferred shares Paid-in capital in excess of par-common stock Paid-in capital in excess of par-preferred stock Total retained earnings before the stock dividend is declared No treasury shares have been reissued. 900.000 750,000 $20 $30 $7,000,000 S33.500.000 Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Total Cash Dividends Dividends 20,000 36.000 79,000 105,000 120,000 180,000 Preferred Dividends Total Per Share 20.000 0.20 36.000 0.36 34.000 0.34 30.000 0.30 30,000 0.30 30,000 0.30 Common Dividends Total Per Share 0.00 0 0.00 45,000 0.00 75.000 0.15 0.18 150,000 0.30 The company declared a 3% common stock dividend on December 1, and would like you to compute the following pieces of missing information. The market value of the common shares is $24.00 on December 1, and is $32.00 on the actual distribution date of the stock, December 31. Fill in the missing information in the following table, using the information given and your work on the other panels. All "before" items are before the stock dividend was declared. All "after" items are after the stock dividend was declared and closing entries were recorded at the end of the year Total paid-in capital before the stock dividend Total retained earnings before the stock dividend Total stockholders' equity before the stock dividend $ Total paid-in capital after the stock dividend Total retained earnings after the stock dividend Total stockholders' equity after the stock dividend Points: 0/6

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