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Accounts for southern lights international

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Reference no: EM131848749

The owners' equity accounts for Southern Lights International are shown here:

Common stock ($.60 par value) $ 45,000

Capital surplus 340,000

Retained earnings 748,120

Total owners' equity $ 1,133,120

________________________________________

a-1. If the company's stock currently sells for $30 per share and a 10 percent stock dividend is declared, how many new shares will be distributed? (Do not round intermediate calculations.)

New shares issued        

a-2. Show the new equity account values. (Do not round intermediate calculations.)

Common stock $  

Capital surplus  

Retained earnings  

Total owners' equity $  

b-1. If instead the company declared a 20 percent stock dividend, how many new shares will be distributed? (Do not round intermediate calculations.)

New shares issued        

b-2. Show the new equity account values. (Do not round intermediate calculations.)

Common stock $  

Capital surplus  

Retained earnings  

Total owners' equity $  

Please show all calculations so I can reproduce them. Thanks

Reference no: EM131848749

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