3.Kendall Corporation has 600,000 shares authorized and 150,000 shares issued and outstanding of its $4 par value common stock. The stock is currently selling for $50 per share. There is $900,000 of additional paid-in capital and the firm has $3,000,000 of retained earnings.Prepare the appropriate journal entry for Kendall Corporation for each of the alternative events below.a) 2% stock dividendb) 100% stock dividendc) 2 for 1 stock split (Assume 300,000 new shares were exchanged for the old shares)