The equity sections from Lauderdale Group's 2016 and 2017 year-end balance sheets follow. Stockholders' Equity (December 31, 2016) Common stock-$8 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 400,000 60,000 330,000 $ 790,000 Stockholders' Equity (December 31, 2017 Common stock-$8 par value, 130,000 shar authorized, 56,370 shares issued, 4,500 shares in treasury$ 450,960 123,700 590,000 1,164,660 Paid-in capital in excess of par value, common stock Retained earnings ($72,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity (72,000) $1,092,660 The following transactions and events affected its equity during year 2017 Jan. 5 Declared a $2.00 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.00 per share cash dividend, payable on April 10. July 5 Declared a $2.00 per share cash dividend, payable on July 10. July 31 Declared a 14% stock dividend when the stock's market value was $18 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.00 per share cash dividend, date of record October 10. View transaction listView journal entry worksheet No Date Account Title Debit Credit Jan 05 Retained earnings 100,000 Common dividend payable 100,000 2 Jan 10 Common dividend payable 100,000 Cash 100,000 Treasury stock, Common Mar 20 96,000 Cash 96,000 Apr 05Retained earnings 91,000 Common dividend payable 91,000 Apr 10 Common dividend payable 91.000 Cash 91,000 6 Jul 05 Retained earnings 91,000 Common dividend payable 91,000 Jul 10 Common dividend payable 91,000 Cash 91,000 Jul 31 Retained earnings h dividend payable 91,000 Jul 10Common dividend payable 91,000 Cash 91,000 Jul 31 Retained earnings Common stock distributable Paid-in capital, Common 9 Aug 14 Common stock distributable Common stock Oct 05 Retained earnings Common dividend payable Oct 10 Common dividend payable Cash 12 Dec 31 Income summary Retained earnings Print Journal General Ledger Trial Balance Cash Dividents Stock Dividend Requirement Generl rences Calculate the dollar amount of each cash dividend. Cash Dividends Dates: Jan 01 to: Dec 31 Calculation of Cash Dividends January 05 April 05 July 05 October 05 How many common shares are outstanding? Dividend per share Total cash dividend Trial Balance Stock Dividend > Book Print erences RqumentSeunal General Ledger Trial Balance Cash Dividends Stock Avidend Requirement Journal 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