On January 1, 2020, SmithCo declared a 10% stock dividend of its 100,000 $1 par value shares of outstanding stock to be distributed on February 10, 2020. As of January 1, 2020, the company had retained earnings of $1,000,000. At the time of declaration, the stock was trading at $15.00 per share. Please note this is a small dividend, not a large. Please record the necessary transactions.