Question #8 Before any dividend on February 5, Darly Company has 20,000 shares of $2 par value common stock outstanding. The common stock has a market value of $3 per share. A) The company dedares a 50% stock dividend on February 5, with the shares to be distributed on February 20, what journal entry should the company make on February S to record the stock dividend declared? What effect does this entry have on the atcounting equation? Assets LiabilitiesEquity 8) What journal entry should the company make on February 20 when the shares are distributed? Cr What effect does this entry have on the accounting equation? s LiabilitiesEquity Assets Submit Question 0 of S Attempts Used MacBook Air 0 Question #7 Drum Inc. has 1,000,000 shares common stock outstanding for the entire year. At December 31, the company has assets of $8,000,000 and liabilities of $2,000,000. The income for the current year is $800,000. The company has no preferred stock. At December 31, the stock is selling for $12 per share on the open market What is the basic earnings per share? What is the price-earnings ratio? What is the book value per common share? Submit Question 0 of 5 Attempts Used MacBook Air 0 9 8 7