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[The following information applies to the questions displayed below.] Bacon Inc. has the following stockholders equity section in its May 31, 2019, comparative balance sheets:

	May 31, 2019			April 30, 2019
Paid-in capital:
Preferred stock, $120 par value, 9%, cumulative, 200,000 shares authorized, 140,000 shares issued and outstanding	$	16,800,000		$	16,800,000
Common stock, $5 par value, 1,000,000 shares authorized, 600,000 and 540,000 shares issued, respectively		?			2,700,000
Additional paid-in capital		26,100,000			23,220,000
Retained earnings		36,200,000			34,640,000
Less: Treasury common stock, at cost; 72,000 shares and 68,000 shares, respectively		(4,412,000	)		(4,148,000	)
Total stockholders' equity f-1. Assume that on June 1 the market value of the common stock was $70 per share and that the board of directors declared a 10% stock dividend on the issued shares of common stock. Use the horizontal model to show the issuance of the stock dividend. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) f-2. Assume that on June 1 the market value of the common stock was $70 per share and that the board of directors declared a 10% stock dividend on the issued shares of common stock. Prepare journal entry to show the issuance of the stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Record the declartion of 10% stock dividend g. Assume that instead of the stock dividend described in f, the board of directors authorized a 2-for-1 stock split on June 1 when the market price of the common stock was $70 per share. 1. What will be the par value, and how many shares of common stock will be authorized after the split? (Round "Par value" answer to 2 decimal places.) a. Par value ----- b. Number of shares ---- 2. What wil lbe the market price per share of common stock after the split? market price------ 3. what is the effect on the stockholders equity as a result !a. . the stock dividend described in part f b. the stock split describe in part g

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