1. A company reported the following amounts on its balance sheet on January 1, 2019: Preferred Stock, $8 par, 5%, 2,000 shares issued and outstanding Common Stock, $1 par, 8,000 shares issued and outstanding Additional Paid-in Capital - Common Total Contributed Capital Retained Earnings Total Stockholder's Equity $16,000 $8,000 $32,000 $56,000 $33,000 $89,000 On March 31, 2019 the company declared and distributed a 5% stock dividend on preferred stock when the stock was selling for $14/share. Write (in good form) the journal entry that would be used to record the distribution of the stock dividend on March 31, 2019