Stock Dividends The Stockholders' Equity section of Goaty Inc.'s balance sheet as of January 1, 2017, appeared as follows: Common stock, $10 par, 30,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $300,000 100,000 400,000 $800,000 The following transactions occurred during 2017: a. Declared a 10% stock dividend to common stockholders on January 15, At the time of the dividend, the common stock was selling for $30 per share. The stock dividend was to be issued to stockholders on January 30, 2017 b. Distributed the stock dividend to the stockholders on January 30, 2017. Required 1. Identify and analyze the effect of each transaction. a. Declared a 10% stock dividend to common stockholders on January 15. At the time of the dividend the common stock was se ing or pers a e The stock di end was to be issued to stockholders on January 30, 2017. Activity Financing Accounts Retained Earnings Decrease, Common Stock Dividend Distributable Increase, Additional Paid-in Capital-Common Increase Statement(s) Balance Sheet only How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative,i to enter the answer with a minus sign Balance Sheet Stockholders Assets Liabilities Equity No Entry V No Entry V No Entry V 0No Entry oNo Entry oNo Entry 0Retained Earnings 0Common Stock Dividend Distributable Additional Paid-In Capital Common Feedback Y Check My Work Partially correct b. Distributed the stock dividend to the stockholders on January 30, 2017 Activity Accounts Statement(s Balance Sheet only Financing V Common Stock Dividend Distributable Decrease, Common Stock Increase How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Balance Sheet Stockholders Assets Liabilities Equity Re No Entry o No Entry 0No Entry o Common Stock Dividend Distributable o Common Stock No Entry No Entry No Entry V Feedback Check My Work Partially correct 2. Develop the Stockholders' Equity category of Goaty Inc.'s balance sheet as of January 31, 2017, after the stock dividend was issued Goaty Inc Partial Balance Sheet Stockholders' equity Common stock $10 par, 33,000 shares issued and outstanding Additional paid-in capital-common stock Retained earnings Total stockholders' equity Feedback