A corporation had stockholders' equity on January 1 as follows: Common Stock, $10 par value, 1,500,000 shares authorized, 600,000 shares issued; Paid-in Capital in Excess of Par Value, Common Stock, $1,000,000; Retained Earnings, $2,500,000. Prepare journal entries to record the following transactions: The board of directors declared a 10% stock dividend to stockholders of record on Feb. 15 March 1,to be issued on April 15.The stock was trading at $8 per share prior to the dividend. Mar. 31 Sold 100,000 shares of common stook for $11 per share. Mar. 15 Issued the stock dividend.