Exercise 12.7 Cash dividends, stock dividends, and share splits L.O. 4 HiTech Manufacturing Company has 1,000,000 shares of $1 par value share capital outstanding on January 1. The following equity transactions occurred during the current year: Apr. 30 Distributed additional shares capital in a 2-for-1 share split. Market price of shares was $35 per share. June 1 Declared a cash dividend of $0.60 per share. July 1 Paid the $0.60 cash dividend per share to shareholders. Aug. 1 Declared a 5 percent stock dividend. Market price of share was $19 per share. Sept. 10 Issued shares resulting from the 5 percent share dividend declared on August 1. a. Prepare journal entries to record the above transactions. (Omit the "$" sign in your response.)