As of January 1, 2021, the information related to the stockholders equity of Margie Company is the following data:

• Retained Earnings - $600,000
• Paid in Capital CS $20,000
• Common stock, $5 par value.
• Common stock, 100,000 shares of common stock authorized.
• Common stock, 2,000 shares of common stock issued and outstanding.

Mar 10: Declared 10% stock dividends to stockholders of record on March 25 and paid on April 20.

Mar 25: Record dividend of March 10.

April 20: Paid (distributable) dividend declared in March 10.

Dec 31: Determinate the net income of Margie Company was $500,000.

Instructions:

Prepare the journal entries for March 10, March 25, April 10. Prepare the Stockholders Equity Section for December 31, 2021.