Able Corporation had shareholders' equity on December 31, 2019, as follows: Common stock, 3,000,000 shares authorized, 500,000 shares issued $3,500,000 Retained earnings 3,000,000 The following transactions occurred during 2020: Feb. 15 The board of directors declared a 5% stock dividend to shareholders of record on March 1, payable March 20. The stock was selling for $6 per share. Mar. 12 Issued the stock dividend. May 1 A cash dividend of $1.10 per share was declared by the board of directors to stockholders of record on May 20, payable June 1. June 1 Paid the cash dividend. Aug. 20 The board decided to split the stock 4 for 1, effective on September 1. Sept. 1 Stock split 4 for 1. Prepare journal entries for the transactions above