ACCOUNTING-Myers Company provides you with the following condensed balance sheet information.

QUESTION

;Myers Company provides you with the following condensed balance sheet information.AssetsCurrent assets$ 47,200Equity investments (ABC stock; 10,160 shares at cost)40,640Equipment (net)258,800Intangibles60,500 Total assets$407,140Liabilities and Stockholders’ EquityCurrent and long-term liabilities$107,700Stockholders’ equity Common stock ($5 par)$ 35,400 Paid-in capital in excess of par118,400 Retained earnings145,640299,440 Total liabilities and stockholders’ equity$407,140For each transaction below, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders’ equity. (Each situation is independent.)(a) Myers declares and pays a $0.59 per share cash dividend.(b) Myers declares and issues a 10% stock dividend when the market price of the stock is $14 per share.(c) Myers declares and issues a 40% stock dividend when the market price of the stock is $16 per share.(d) Myers declares and distributes a property dividend. Myers gives one share of its equity investment (ABC stock) for every two shares of Myers Company stock held. ABC is selling for $11 per share on the date the property dividend is declared.(e) Myers declares a 3-for-1 stock split and issues new shares.

ANSWER:

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