Stock Dividends and Stock Splits

Lance Products' balance sheet includes total assets of $587,000 and the following equity account balances at December 31, 2013:

1. How much would Lance Products have reported for total assets and retained earnings on December 31, 2013, if the firm had declared and paid a $33,000 cash dividend on December 31, 2013?

2. How much would Lance have reported for total assets and retained earnings on December 31, 2013, if the firm had issued a 15% stock dividend on December 31, 2013? If total assets or retained earnings are not changed please select "No change" and enter zero ("0") in the amount box.

Common stock, $2 par, 80,000 shares issued and $160,000 outstanding 24,000 Additional paid-in capital-common stock Total capital stock $184,000 217,000 Retained earnings $401,000 Total stockholders' equity Lance's common stock is selling for $10 per share on December 31, 2013