How would you start to record a two-for-one stock split and Class C Dividend?

On June 15, 2015, Under Armour announced the creation of a new class of non-voting common stock, the Class C common stock. The press release stated that: Under Armour expects to issue Class C stock through a stock dividend to all existing holders of Under Armour's Class A and Class B common stock, which will have the same effect as a two-for-one stock split. Each holder of a share of Class A or Class B stock will receive one share of the new Class C stock. Do you agree or disagree that the effect of the Class C stock dividend will be the same as a two-for-one stock split? As an example, assume the transaction would have occurred on January 1, 2015. On the basis of the information on Under Armours Consolidated Balance Sheet for December 31, 2014 (excerpted and presented on the next page of this assignment), what journal entry would be required to record (a) a two-for-one stock split, and (b) the Class C stock dividend?

(a) Two-for-one stock split:

(b) Class C stock dividend:

Under Armour, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands, except share data) December 31, 2014 December 31, 2013 Assets Current assets Cash and cash equivalents Accounts receivable, net 279,835 209,952 Inventories 536.714 469,006 Prepaid expenses and other current assets 87.177 63.987 Deferred income taxes 52.498 38,377 Total current assets 1,540.399 1,128,811 Property and equipment, net 305.564 223 952 Goodwill 123.256 122,244 Intangible assets, net 26.230 24,097 Deferred income taxes 33.570 31,094 Other long term assets 57.064 47,543 2,095,083 Total assets 1,577.741 Liabilities and Stockholders' Equity Current liabilities Revolving credit facility 100.000 Accounts payable 210.432 165,456 Accrued expenses 147.681 133.729 Current maturities of long term debt 28,951 4.972 other current liabilities 34.563 22.473 Total current liabilities 426,630 421.627 255.250 47,951 Long term debt, net of current maturities Other long term liabilities 67.906 49.806 744.783 524.387 Total liabilities Commitments and contingencies (see Note 7) Stockholders' equity Class A Common Stock, $0.0003 1/3 par value; 400,000,000 shares authorized as ofDecember 31, 2011 and 2013; 177,295,088 shares issued and outstanding as of December 31, 2011 and 171,628,708 shares issued and outstanding as of December 31, 2013 59 57 Class B Convertible Common Stock, $0.0003 1/3 par value; 36,600,000 shares authorized, issued and outstanding as of December 31, 2014 and 40,000,000 shares authorized, issued and outstanding as of December 31, 2013 12 13 Additional paid-in capital 508.350 397,248 Retained earnings 856.687 653.842 Accumulated other comprehensive income (oss) (14,808) 2.194 Total stockholders' equity 2,095,083 Total liabilities and stockholders' equity 1,577.741 See accompanying notes