Please answer P3B

P3A: Cash Dividends On 11/1 the Board of Directors of GE declared a cash dividend of $2 per share on their common stock which had a par value of $10 per share. The date of record was 12/1 and the date of payment was 12/31. On the date of declaration there were 200K shares of common stock authorized; 150K shares of common stock issued; and 100K shares of common stock outstanding. The Retained Earnings account on that day had a balance of $1M and the market price of the stock was $30 per share. Prepare journal entries on the following dates: 1. Date of Declaration 2. Date of Record 3. Date of Payment P3B: Stock Dividend Refer to the information in Problem 3A above but now assume that the Board of Directors declared a 10% stock dividend on 11/1. Required A.Prepare the journal entries on the dates given above. B. How would your answer change if GE had declared a 40% stock dividend