The Western Pipe Company has the following capital section in its balance sheet. Its stock is currently selling for $4 per share.

Common stock (65,000 shares at $2 par)	$	130,000
Capital in excess of par		130,000
Retained earnings		250,000
Total equity	$	510,000

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.

Western Pipe Co. After Stock Dividend

Common Stock:____________________

Capital in access of par:______________

Retained Earnings:__________________

Total Equity:_______________________

Western Pipe Co. After Stock Dividend

Common Stock:____________________

Capital in access of par:______________

Retained Earnings:__________________

Total Equity:_______________________