Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 Stockholders' Equity (December 31, 2017) Common stock-$10 par value, 130,000 shares authorized, 58,800 shares issued, 6,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($120,000 restricted by treasury stock) $ 588,000 180,600 740,000 1,508,600 120,000 $1,388,600 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during year 2017 Jan. 5 Declared a $2.00 per share cash dividend, payable on January 10 Mar. 20 Purchased treasury stock for cash Apr. 5 Declared a $2.00 per share cash dividend, payable on April 10 July 5 Declared a $2.00 per share cash dividend, payable on July 10 July 31 Declared a 20% stock dividend when the stock's market value was $22 per share. Aug. 14 Issued the stock dividend that was declared on July 31 Oct. 5 Declared a $2.00 per share cash dividend, date of record October 10 General ournal General Ledger Cash DividendsStock Dividend Requirement Trial Balance Calculate the amount of retained earnings to be capitalized as a result of the stock dividend Dates Jan 01 to: Dec 31 Capitalization of retained earnings due to stock dividend: Number of shares outstanding on July 30 Percentage of stock dividend Number of shares to be issued Amount to be capitalized per share Total amount to be capitalized