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QS 11-7 Accounting for small stock dividends LO P2 Epic Inc. has 10,200 shares of $2 par value common stock outstanding. Epic declares a 7%

QS 11-7 Accounting for small stock dividends LO P2 Epic Inc. has 10,200 shares of $2 par value common stock outstanding. Epic declares a 7% stock dividend on July 1 when the stocks market value is $10 per share. The stock dividend is distributed on July 20. Prepare journal entries for (a) declaration and (b) distribution of the stock dividend.

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