The equity sections for Ontario Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$6 par value, 110,000 shares authorized, 40,000 shares issued and outstanding $ 240, 000 Paid-in capital in excess of par value, common stock 36, 000 Retained earnings 200, 000 Total stockholders' equity $ 476, 000 Stockholders' Equity (December 31) Common stock-$6 par value, 110,000 shares authorized, 46,210 shares issued, 5,500 shares in treasury $ 277, 260 Paid-in capital in excess of par value, common stock 85, 680 Retained earnings ($66,000 restricted by treasury stock) 360, 000 722, 940 Less cost of treasury stock (66, 000) Total stockholders' equity $ 656, 940 The following transactions and events affected its equity during the year. January 5 Declared a $2.40 per share cash dividend, payable on January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 18% stock dividend when the stock's market value was $14 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $2.40 per share cash dividend, date of record October 10. General General Trial Balance Cash Requirement Stock Dividend Journal Ledger Dividends Calculate the amount of retained earnings to be capitalized as a result of the stock dividend. Dates: January 01 to: January 01 Capitalization of retained earnings due to stock dividend: Number of shares outstanding on July 30 34,500 Percentage of stock dividend 18% Number of shares to be issued Amount to be capitalized per share Total amount to be capitalized