JM Corporation's balance sheet as of December $31,2024$ shows the following:

Prepare journal entries for the following transactions that occurred in $2025.$ Show

calculations.

Jan $15$ Issued $100,000$ common shares at $$7$ per share.

May $1$ Declared a $10\%$ stock dividend. The fair value per share on May $1$ was $$9$ per share.

June $1$ Issued the stock dividend declared on May $1.$

Oct $15$ A $2$ for $1$ common stock split is declared and issued.

Dec $31$ Declared a $$0\mathrm{.}50$ per share common dividend, payable Jan $15,2026.$

Dec $31$ Declared a preferred dividend, payable Jan $15,2026.$ No dividend was paid for $2024.$