STEINER CORPORATION

Partial Balance Sheet

December 31, 2018

Stockholders equity

8% Preferred stock, $100 par value, cumulative, 5,000 shares issued $500,000

In excess of par value preferred stock $280,000

Common stock, $5 par value, 440,000 shares issued $2,200,000 In excess of par valuecommon stock $800,000

Total paid-in capital $3,780,000

Retained earnings $1,334,000

Total paid-in capital and retained earnings $5,114,000

Less: Treasury stock (10,000 common shares) ($120,000)

Total stockholders equity $4,994,000

On December 1, 2018, the board of directors declared cash dividends. This is the only cash dividend declared during 2018. The dividend in arrears as of December 1, 2018 is $30,000. The net income was $600,000 for the entire year of 2018. The balance of retained earnings at the end of 2017 was $900,000. Compute the amount of cash dividend on common stock declared on December 1, 2018 in .

On January 12, 2019, Steiner issued 20,000 shares of common stock with an issue price of $20 per share, $5 par value. Record the journal entry for this transaction in .

On January 28, 2019, Steiner reissued 5,000 shares of its treasury stock for $15 per share. Record the journal entry for this transaction in .

On March 28, 2019, Steiner reissued 4,000 shares of its treasury stock for $10 per share. Record the journal entry for this transaction in .

On December 20, 2019, Steiner declared a 10% stock dividend to common shareholders. The market value of common stock was $25 per share at the declaration of the stock dividend. Enter the value of the stock dividend to common shareholders in .