Stockholders' Equity (December 31, 2016) Common stock-$12 par value, 140,000 shares authorized, 60.000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 Stockholders' Equity (December 31, 2017) Common stock-$12 par value, 140,000 shares authorized, 65,650 shares issued, 3,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($84,000 restricted by treasury stock) $ 787,800 187,100 1,060,000 2,034,900 (84,000 $1,950,900 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during year 2017. Jan. 5 Declared a $2.20 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.20 per share cash dividend, payable on April 10. July 5 Declared a $2.20 per share cash dividend, payable on July 10. July 31 Declared a 10% stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.20 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend The following transactions and events affected its equity during 2017. Prepare the journal entry necessary to rec and then agree the year-end balances with the December 31, 2017 Stockholders' Equity statement given above. View transaction list View journal entry worksheet No Date Account Title Debit Credit 1 Jan 05 Cash Journal entry worksheet Journal entry worksheet Record payment of the 04/05/2017 dividend. Note: Enter debits before credits. Date Account Title Debit Credit Apr 10 Record entry Clear entry View general journal Journal entry worksheet Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Arnold Group Trial Balance December 31, 2017 Account Title Credit Debit 2,552,230 $ Cash Common stock Pald.in capital, Common Retained earnings Income summary Total 720,000 108,000 590,000 1,134,230 2,552,230 $ 2.552.230ls wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww Requirement General Journal General Ledger Trial Balance Trial Balance Cash Dividends ocashes Stock Stock Dividend Calculate the dollar amount of each cash dividend. Dates: Jan 01 to: July 05 October 05 Calculation of Cash Dividends January 05 April 05 How many common shares are outstanding? Dividend per share Total cash dividend Requirement Requirement General Journal Se ra General Ledger Segle Trial Balance Trial Balance Cash ou cash as stock Dividend Dividends Stock Dividend 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 Cash Dividends Stock Dividend