Need help!!!!!!

1. On September 1, Ziegler Corporation had 63,000 shares of $5 par value common stock, and $189,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is:

Debit Retained Earnings $945,000; credit Common Stock $945,000.

Debit Retained Earnings $315,000; credit Common Stock $315,000.

Debit Retained Earnings $315,000; credit Stock Split Payable $315,000.

Debit Retained Earnings $945,000; credit Common Stock Split Distributable $945,000.

No entry is made for this transaction.

2. Torino Company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $3,500 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

$4,300.

$3,500.

$7,800.

$3,900.

$400.