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On December 31, 2020, Sunland Corporation had the following shareholders equity accounts:

SUNLAND CORPORATION Balance Sheet (partial) December 31, 2020
Shareholders equity
Common shares (unlimited number of shares authorized, 94,000 issued)		$1,172,000
Retained earnings		590,000
Total shareholders equity		$1,762,000

During the year, the following transactions occurred:

Jan.		15		Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15.
July		1		Announced a 2-for-1 stock split. The market price per share on the date of the announcement was $12.
Dec.		15		Declared a 10% stock dividend to shareholders of record on December 30, distributable on January 15. On December 15, the market price of each share was $6; on December 30, $7; and on January 15, $6.
		31		Determined that profit before income tax for the year was $410,000. The company has a 35% income tax rate.

Journalize the transactions and closing entries for 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To record declaration of cash dividend.)
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To record payment of dividend.)
July 1	Memo: 2-for-1 stock split increases the number of shares to
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To record declaration of stock dividend.)
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To close Income Summary.)
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To close dividends to retained earnings.)