On January 1, 2014, Holt Corporation had $1, 000, 000 of common stock outstanding that was issued at par and retained earnings of $750, 000. The company issued 60, 000 shares of common stock at par on July 1 and earned net income of $400, 000 for the year. Instructions Journalize the declaration of a 15% stock dividend on December 10, 2014, for the following two independent assumptions. (a) Par value is $10 and market value is $16.(b) Par value is $5 and market value is $8