LO 11-3 E11-13 Accounting for Dividends Black & DeckerStanley Black & Decker is a leading global manufacturer and marketer of power tools he and home improvement products. A press release contained the following announcement tools, hardware, NEW BRITAIN, Conn.---(BUSINESS WIRE)-Feb. 18, 2014-Stanley Black & Decker (NYSE: SWKY announced today that its Board of Directors approved a regular first-quarter cash dividend of So per common share. This extends the company's record for the longest consecutive annual and quarterly dividend payments among industrial companies listed on the New York Stock Exchange The dividend is payable on Tuesday, March 18, 2014, to shareholders of record as of the close of business on Wednesday, March 5, 2014. At the time of the press release, the company had 300 million shares authorized and 155 million outstanding. The par value for the company's stock is $2.50 per share. CHAPTER 1: Required: 1. Prepare journal entries as appropriate for each of the three dates mentioned above. 2. Assuming no other dividends were declared during the year, prepare the closing entry