E11-14 On January 1, 2017, Lanie Limited had 1,000,000 of ordinary shares outstanding that were issued at par. It also had retained earnings of 750,000. The company issued 40,000 ordinary shares at par on July 1 and earned net income of 400,000 for the year. Instructions Journalize the declaration of a 15% share dividend on December 10, 2017, for the follow- ing independent assumptions. (a) Par value is 8, and market price is 18. (b) Par value is 5, and market price is 20.