E $18-19$ Stock dividend $$ L$018-8$

The shareholders' equity of Core Technologies Company on June $30,2023,$ included the following:

On April $1,2024,$ the board of directors of Core Technologies declared a $10\%$ stock dividend on common shares, to be distributed on

June $1.$ The market price of Core Technologies' common stock was $$30$ on April $1,2024,$ and $$40$ on June $1,2024.$

Required:

Prepare the journal entry to record the declaration and distribution of the stock dividend.