Reference no: EM132856657
Question - The owners' equity accounts for Southern Lights International are shown here:
Common stock ($.40 par value) $40,000
Capital surplus $350,000
Retained earnings $768,120
Total owners' equity $1,158,120
1a. If the company's stock currently sells for $25 per share and a 20 percent stock dividend is declared, how many new shares will be distributed?
1b. Show the new equity account values.
Common Stock $___________
Capital Surplus $___________
Retained Earnings $________
Total Owners Equity $_______
1c. If instead the company declared a 25 percent stock dividend, how many new shares will be distributed?
1d. Show the new equity account values.
Common Stock $___________
Capital Surplus $___________
Retained Earnings $________
Total Owners Equity $_______
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