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Instructions The shareholders' equity of Raven Company is as shown: RAVEN COMPANY Partial Balance Sheet Common stock, $10 par $200,000.00 Additional paid-in capital on common stock 100,000.00 Retained earings 200,000.00 $500,000.00 Raven is considering the declaration and issuance of a stock dividend at a time when the market price is $25 per share. Required: 1. Assuming the board of directors recommends a 6% stock dividend, prepare: a. the journal entry at the date of declaration b. the journal entry at the date of issuance C. shareholders' equity after the issuance 2. Assuming, instead, that a 40% stock dividend is recommended, answer a, b, and c of Requirement 1. Prepare the appropriate journal entries for the declaration on December 1 and payment or distribution of the dividend on December 15, assuming the board of directors recommends a 6% stock dividend. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT Prepare the appropriate journal entries for the declaration on December 1 and payment or distribution of the dividend on December 15, assuming the board of directors recommends a 40% stock dividend. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT Partial Balance Sheet December 31, 2019 1 Common stock 2 Additional paid-in capital on common stock Additional paid-in capital from stock dividend Retained earnings Prepare the shareholders' equity section of Raven's balance sheet at December 31, assuming the board of directors recommends a 40% stock dividend RAVEN COMPANY Partial Balance Sheet December 31, 2019 Common stock 2 Additional paid-in capital on common stock 3 Retained earnings

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