3. Cash versus stock dividend Milwaukee Tool has the following stockholders’ equity account. The firm’s common stock currently sells for $3.81 per share. Preferred stock Common stock (300,000 shares at $0.94 par) Paid-in capital in excess of par Retained earnings Total stockholders’ equity $ 100,000 282,000 196,000 390,000 $968.000 a. Show the effects on the firm of a cash dividend of $0.20 per share. b. Show the effects on the firm of a 20% stock dividend. c. Compare the effects in parts a and b. What are the significant differences between the two methods of paying dividends? a. The balance in preferred stock after the $0.20 cash dividend is $ (Round to the nearest dollar.) The balance in common stock after the 50 20 cash dividend is S . (Round to the nearest dollar.) The balance in paid-in capital after the $0.20 cash dividend is $
(Round to the nearest dollar.) The balance in retained earnings after the $0.20 cash dividend is S (Round to the nearest dollar.) The balance in total stockholders’ equity after the $0.20 cash dividend is $ (Round to the nearest dollar.) b. The balance in preferred stock after the 20% stock dividend is $ (Round to the nearest dollar.) The balance in common stock after the 20% stock dividend is $ (Round to the nearest dollar.) The balance in paid-in capital after the 20% stock dividend is S (Round to the nearest dollar.) The balance in retained earnings after the 20% stock dividend is $ . (Round to the nearest dollar.) The total stockholder’s equity after the 20% stock dividend is S (Round to the nearest dollar.) c. Compare the effects in parts a and b. What are the significant differences between the two methods of paying dividends? (Select from the drop-down menus.) – do not affect stockholders’ equity; they only redistribute retained eamings into common stock and additional paid-in capital accounts. (2) – stockholders’ equity (1) – – cause a decrease in retained earnings and, hence, in overall (1) O O Stock dividends Cash dividends (2) O Cash dividends Stock dividends
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