On December 31, the stockholders’ equity of Marie’s Auto Body P.O. 6 Repair, Inc., is as follows:

On March 6 of the following year, when the stock is selling at $38 per share, the board of directors votes a 20 percent stock dividend, distributable on May 28 to stockholders of record on March 22. Give the entries to record the dec¬
laration and distribution of the dividend.

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Paid-in Capital: Common Stock, no par, stated value $20 share (30,000 shares authorized, 18,000 shares issued) Paid-in Capital in Excess of Stated Value Total Paid-in Capital Retained Earnings: Unappropriated Appropriated for Contingencies Total Retained Earnings Total Stockholders' Equity per $36000000 $400000 $205 02000 9180000 $41400000 296 8 2 000 7108 2000