Fast Line Corporation had $1,000,000 in common stock outstanding on January 1, 2017, which was issued at par. It also had $750,000 in retained earnings. On July 1, the corporation issued 40,000 shares of common stock at par and generated a net profit of $400,000 for the year. Instructions For the following independent assumptions, journalize the declaration of a 15% stock dividend on December 10, 2017. (a) The par value is $10, whereas the market price is $18. (a) The par value is $5, while the market price is $20.