Pranks, Inc. x Stock Dividend Shaded cells have feedback. X 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 $25.00 on December 1, and is $32.00 on the actual distribution date of the stock, December 31. Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. The corporation has paid several cash dividends throughout 20Y6, 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. 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. You've been able to retrieve the following information so far: Number of common shares authorized 800,000 Total paid-in capital before the stock dividend $17,000,000 X Number of common shares issued 650,000 $20 Total retained earnings before the stock dividend 23,000,000 X Par value of common shares Par value of cumulative preferred shares $30 Total stockholders' equity before the stock dividend $56,500,000 Paid-in capital in excess of par-common stock Total paid-in capital after the stock dividend $23,200,000 X $7,000,000 0 $0 Paid-in capital in excess of par-preferred stock Total retained earnings after the stock dividend 23,200,000 X Total retained earnings before the stock dividend is declared $33,500,000 Total stockholders' equity after the stock dividend $56,500,000 No treasury shares have been reissued. Points: 2/6 Common Dividends Year Total Cash Dividends $40,000 Preferred Dividends Total Per Share $40,000 S0.20 Total Per Share Feedback 20Y1 $0 0 S0.00 20Y2 72,000 72,000 0.36 0 0 0.00 Check My Work 20Y3 113,000 68,000 0.34 45,000 0.09 20Y4 135,000 60,000 0.30 75,000 0.15 20Y5 150,000 60,000 0.30 90,000 0.18 20Y6 210,000 60,000 0.30 150,000 0.30