E14-1 Ogden Aviation Services, Inc., is authorized to issue 500,000 shares of $1 par common stock. The company issued 80.000 shares at $4 per share, and all 80,000 shares are outstand- ing. When the retained earnings balance was $150,000. Ogden distributed a 50% stock divi- dend. Later. Ogden declared and paid a $0.30 per share cash dividend. Required 1. Journalize the distribution of the stock dividend. 2. Journalize both the declaration and the payment of the cash dividend. 3. Prepare the stockholders' equity section of the balance sheet after both dividends.