Question: (Learning Objectives 4, 6: Record a stock dividend and report stockholders equity) The stockholders equity for Perfect Desserts Drive-Ins (PD) on December 31, 2012, follows:

(Learning Objectives 4, 6: Record a stock dividend and report stockholders equity) The stockholders equity for Perfect Desserts Drive-Ins (PD) on December 31, 2012, follows: On July 13, 2013, the market price of PD common stock was $17 per share. Assume PD distributed a 25% stock dividend on this date

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