The equity sections for Porter Group at the beginning of the year (January 1 ) and end of the year (December 31 ) follow. Stockholders' Equity (January 1) Connon stock-54 par value, 118,063 shares authorized, 40,009 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (Decenber 31) Common stock-54 par value, 110,000 shares authorized, 43,650 shares issued, 3, 560 shares in treasury poid-in capital in excess of par value, comon stock Retained earnings ($28,600 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the yeat: January 5 Declared a $1,60 per share cash dividend, payable on January 10. Narch 28. Purchased treasury stock for cash. Apri1 5 Declared a $1.60 per share cash dividend, payable on Apri1 10. July 5 Declared a $1.60 per share cash dividend, payable on July 10. July 31 Declared a 10x stock dividend when the stock's narket value was $1e per share. August 14 Issued the stock dividend that was declared on July 31. october 5 Declared a 51.60 per share cash dividend, date of record october 10. Journal entry worksheet 235678 Declared a $1.60 per share cash dividend, payable on January 10. Note: Enter debits before credits. Journal entry worksheet 45 Record payment of the 01/05 dividend. Note: Enter debits before credits. Purchased treasury stock for cash. Hint: Use information from the December 31 Stockholders' equity statement. Entry to restrict retained earnings is not required. Note: Enter debits before credits. Journal entry worksheet Declared a $1.60 per share cash dividend, payable on April 10. Note: Enter debits before credits. Journal entry worksheet \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Calculation of Cash Dividends } \\ \hline & January 05 & April 05 & July 05 & October 05 \\ \hline How many common shares are outstanding? & & & & \\ \hline Dividend per share & & & & \\ \hline Total cash dividend & & & & \\ \hline & & & & \\ \hline \end{tabular} Calculate the amount of retained earnings to be capitalized as a result of the stock dividend