snihoqsR emoani bnaibo F143 (LO 1) On January 1, 2020, Frontier Corporation had $1,000,000 of common stock outstanding la was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of Journ common stock at par on July 1 and earned net income of $400,000 for the vear. 0,001o ouai ni Inosn Instructions Journalize the declaration of a 15% stock dividend on December 10, 2020, for the following independent assumptions. a. Par value is $10, and market price is $18. b. Par value is $5, and market price is $20. A (LO 1) On October 31, the stockholders' equity section of Heins Company consists of common stock $500,000 and retained earnings $900,000. Heins is considering the following two courses of action: (1) declaring a 5% stock dividend on the 50,000, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $14 per share. 2010000 stock. Other information regarding 2019 2020 E14 $100,000 $30,000 $20,000 50,000 S110,000 Net income $30,000 $25,000 Dividends on preferred stock Dividends on common stock Weighted-average number of common shares outstanding Common stockholders' equity beginning of year Common stockholders' equity end of year (a) Compute earnings per share for each year and (b) discuss its change from 2019 to 2020 45 00 $600,000 lo on $750,000 $830,000 $750,000 On stc In E14.1 (LO 1) Financial Statement On January 1, Guillen Corporation had 95,000 shares of no.nr common stock issued and outstanding. The stock has a stated value of $5 per share. During the year e following occurred. vidends; indicate tion. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Dec. Paid the $1 cash dividend. 1 Issued 2,000 additional shares of common stock for $19 per share. Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. 15 Instructions a. Prepare the entries to record these transactions. How are dividends and dividends payable reported in the financial statements prepared at December s b. 292i E14.2 (LO 1) Knudsen Corporation was organized on January 1, 2019. During its first vear, the cop to preferred rotion ieasad 2.000