On June 13, the board of directors of Siewert Incorporated declared a 5% stock dividend on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $32 on June 13. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). 1 No Answer is not complete. Event General Journal Debit Credit 1 Retained earnings 93,000,000 x Common stock 3,000,000 x Paid-in capital - excess of par 96,000,000