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
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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