The Board of Directors of CYZ Corporation votes to issue two shares of stock for each share held as a stock dividend to shareholders. Just prior to the dividend, Cheryl owns 200 shares of CYZ Corporation stock that she purchased for $50 per share. She receives 400 new shares as a result of the dividend. How much gross income must Cheryl report as a result of the dividend and what is her stock basis after the dividend. Please show your work and explain your calculations