Grant Corporation's stockholders' equity consisted of 60,000 authorized shares of USD 30 par value common stock, of which 30,000 shares had been issued at par, and retained earnings of USD 750,000. The company then split its stock, two for one, by changing the par value of the old shares and issuing new USD 15 par shares. a. Give the required journal entry to record the stock split. b. Suppose instead that the company declared and later issued a 10 per cent stock dividend. Give the required journal entries, assuming that the market value on the date of declaration was USD 40 per share.