The Western Pipe Company has the following capital section in its balance sheet. Its stock is currently selling for $6 per share.

Common stock (40,000 shares)	$80,000
Retained earnings	180,000
	$260,000

The firm intends to first declare a 10 percent stock dividend and then pay a $0.25 cash dividend (which also causes a reduction of retained earnings).

Show the capital section of the balance sheet after the first transaction and then after the second transaction.

Western Pipe Company
After 1st transaction
Common stock (44,000 shares)	$
Retained earnings
	$

Western Pipe Company
After 2nd transaction
Common stock (44,000 shares)	$
Retained earnings
	$