1- The following data were taken from the balance sheet accounts of Pharoah Corporation on December 31, 2016. Current assets $520,000 Debt investments 567,000 Common stock (par value $10) 507,000 Paid-in capital in excess of par 135,000 Retained earnings 797,000 Prepare the required journal entries for the following unrelated items

(a)		A 5% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $45.
(b)		The par value of the common stock is reduced to $2 with a 5-for-1 stock split.
(c)		A dividend is declared January 5, 2017, and paid January 25, 2017, in bonds held as an investment. The bonds have a book value of $99,000 and a fair value of $126,000.