Gutsy Company provides you with the following condensed balance sheet information.

Instructions
For 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) Gutsy declares and pays a $0.50 per share cash dividend.
(b) Gutsy declares and issues a 10% stock dividend when the market price of the stock is $14 per share.
(c) Gutsy declares and issues a 40% stock dividend when the market price of the stock is $15 per share.
(d) Gutsy declares and distributes a property dividend. Gutsy gives one share of ABC stock for every two shares of Gutsy Company stock held. ABC is selling for $10 per share on the date the property dividend is declared.
(e) Gutsy declares a 2-for-1 stock split and issues newshares.

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Assets Liabilities and Stockholders' Equity $40,000 Current and long-term liabilities Stockholders' equity $100,000 Current assets Investments in ABC stock (10,000 shares at cost Equipment (net) Intangibles 60,000 Common stock ($2 par) $ 20,000 250,000 Paid-in capital in excess of par 110,000 180,000 310,000 60,000 Retained earnings 410.000 Total assets Total liabilities and stockholders' equity $410,000