On July 31,a Corporation Reported the Following Stockholders' Equity On July 31,the Market Value of the Corporation's Stock Was

On July 31,a corporation reported the following stockholders' equity:
$\begin{array}{|l|r|}\hline\begin{array}{l}\text { Common stock, } \$ 10 \text { par value, } 200,000 \text { shares authorized, } 100,000 \text { shares } \\\text { issued and outstanding }\end{array} & \$ 1,000,000 \\\hline \text { Retained earnings } & 350,000 \\\hline \text { Total stockholders' equity } & \$ 1,350,000\\\hline\end{array}$
On July 31,the market value of the corporation's stock was $15 per share.The directors were considering declaring a 10% or 30% stock dividend but wanted to know what effect each stock dividend would have on stockholders' equity.Calculate the balances in the following accounts for each proposed stock dividend distribution.
$\begin{array}{llr}& \text {Balances after}& \text {Balances after}\\ & \text {10\% Stock Dividend}& \text {30\% Stock Dividend}\\ \text {Common stock. } &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Contributed capital in } &\\ \text {excess of par value, } &\\ \text { Common stock } &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Retained earnings} &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Total stockholders' equity } &\\\end{array}$