please explain #C !!

+A and B Also..

Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (260,000 shares authorized; 8,000 shares issued), $100 par, $800,000; Paid-In Capital in excess of par- common stock, $80,000; and Retained earnings, $6,400,000. The board of directors declared a 1% stock dividend when the market price of the stock was $133 a share. Senior Life Co. reported no income or loss for the current vear If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" from the dropdwn. a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. Stock Dividends 80 Stock Dividends Distributable 10,640 Paid-In Capital in Excess of Par-Common Stock 2,640 a2. Journalize the entry to record the issuance of the stock certificates. Stock Dividends Distributable 10.640 Common Stock 10.640 b. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. $ 880,000 Total paid-in capital 6,400,000 Total retained earnings $ 7,280,000 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. Next Previous Check My Work 3 more Check My Work uses remaining Submit Assianment for Gradi Save and Exit 6ll work Eaved CH 13 Text Assignments eBook Show Me How Calculator Print Item the current year If an amount box does not require an entry, leave it blank. If no entry is required, select No entry required" from the dropdown. al. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. Stock Dividends 80 Stock Dividends Distributable 10,640 Pald-In Capital in Excess of Par-Common Stock 2.640 a2. Jounalize the entry to record the issuance of the stock certificates Stock Dividends Distributable 10.640 Common Stock 10,640 b. 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 880,000 Total retained earnings 6,400,000 Total stockholders' equity 7,280,000 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 stockhoiders' equity. Total paid-in capital Total retained earnings Total stockholders' equity Check My Work 3 more Check My Work uses remaining signment Score: 86.11% Subr Save and Exit All work saved