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

Common stock (55,000 shares at $2 par)	$	110,000
Capital in excess of par		110,000
Retained earnings		280,000
	$	500,000

The firm intends to first declare a 10 percent stock dividend and then pay a 15-cent 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. (Omit the "$" sign in your response.)

WESTERN PIPE CO.
After 1st transaction
Common stock	$
Capital in excess of par
Retained earnings
	$

WESTERN PIPE CO.
After 2nd transaction
Common stock	$
Capital in excess of par
Retained earnings
	$