Saved Help Save & Exit Sub Exercise 8-15 Accounting for stock dividends LO 8-7 Check my wo Beacon Corporation issued a 7 percent stock dividend on 39,000 shares of its $8 par common stock. At the time of the dividend, the market value of the stock was $30 per share. Required: a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividend _02 e WI PHILIPS Saved Help Save & Exit Sul Check my wor Required A Required B Show the effects of the stock dividend on the financial statements using a horizontal statements model like the following one. In the Cash Fle operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. (E minus sign.) BEACON CORPORATION Horizontal Statements Model Balance Sheet + + Stockholders' Equity Revenue Common PIC in Retained Stock Excess Earnings Income Statement - Expense - Net Income Statement of Cash Flow Assets = Liabilities Cash = (Required A oue wil PHILIPS