On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $19 on June 13. Complete the below table to calculate the stock dividend.

tock Dividend
Number of outstanding shares
Stock dividend percentage (%)		%
Number of shares to be issued
x Market Value per shareselected answer correct
Value of stock dividend

Prepare a journal entry that summarizes the declaration and distribution of the stock dividend.