Question: How do I solve the problem in the image? What steps do I take and what formulas do I use to find the correct answer?
How do I solve the problem in the image? What steps do I take and what formulas do I use to find the correct answer?

Problem 17-8 Stock Dividend Effects [LG17-6) If a firm has retained earnings of $23.2 million, a common shares account of $275.2 million, and additional paidin capital of $100.2 million, how would these accounts change in response to a 20 percent stock dividend? Assume market value of equity is equal to book value of equity. {Enter your answers in dollars not in millions. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Indicate the direction of the effect by selecting "increase," "decrease," or "no change" from the dropdown menu.) MW... -|-l _l_l
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