45 Required information Exercise 11-10 (Algo) Small stock dividend LO P2 [The following information applies to the questions displayed below] The stockholders' equity section of TVX Company on February 4 follows Common stock-$20 par value, 150,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,100,000 430,000 550,000 $2,000,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $36 per share on February 5 before the stock dividend. Exercise 11-10 (Algo) Part 1 1. Prepare entries to record both the dividend declaration and its distribution.