The equity sections for Upperchurch Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) 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) Common stock-$10 par value, 130,000 shares authorized, 55,520 shares issued, 4,000 shares in treasury $ 555,200 Paid-in capital in excess of par value, common stock 141, 240 Retained earnings ($80,000 restricted by treasury stock) 740,000 1,436, 440 Less cost of treasury stock (80,000) Total stockholders' equity $1,356, 440 The following transactions and events affected its equity during the year. Jan. 5 Declared a $1.80 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $1.80 per share cash dividend, payable on April 10. July 5 Declared a $1.80 per share cash dividend, payable on July 10. July 31 Declared a 12% 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 $1.80 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend .. --- ---LJI.IJ.- Dates: Jan 01 July 05 October 05 Calculation of Cash Dividends January 05 April 05 How many common shares are outstanding? Dividend per share Total cash dividend Trial Balance Stock Dividend > OULUTUMULON Dates: Jan 01 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