Entries for Stock Dividends Organic Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Organic Life Co.: Common stock (250,000 shares authorized), $125 par, $17,500,000; Paid-In Capital in excess of par—common stock, $560,000; and Retained earnings, $75,496,000. The board of directors declared a 3% stock dividend when the market price of the stock was $132 a share. Organic Life Co. reported no income or loss for the current year. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders’ equity. Total paid-in capital $ Total retained earnings $ Total stockholders’ equity $ c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders’ equity. Total paid-in capital $ Total retained earnings $ Total stockholders’ equity $
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