On January 1, 2015, Ajax Incorporated has 1,000,000 outstanding common shares with $1 par value Prepare journal entries for the following events (if necessary) by Ajax Incorporated. February 3, 2015 Ajax declared cash dividends of $0.45 per share of common. March 1, 2015 Ajax declared and distributed a 5% stock dividend when the price of one share of common stock was $30.00. Fractional shares equivalent to 1,000 shares were distributed as cash. Ajax also paid the cash dividends declared on February 3M February 3, 2016 Ajax Board of Directors declared cash dividends of $0.34 per share of common. March 1, 2016 Ajax declared and distributed a 2% stock dividend when the price of one share of common stock was $36.00. Fractional shares equivalent to 480 shares were distributed as cash. Ajax also paid the cash dividends declared on February 3, October 5, 2016 Ajax declared a property dividend of 21,420 shares of Comet with a price per share of $80 (On January 1, 2015 the Comet shares were purchased as Trading Securities and had a market price of $82 per share). November 30, 2016 Ajax distributed the Comet shares to their shareholders