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Ronald Company has 250,000 shares of $3 par value common stock outstanding on January 1, 2021. The company issues another 50,000 shares of common stock on April 10, 2021. Prepare the required journal entries for the stock dividend explained below. On May 1, 2021, Ronald Company declares a 5% stock dividend to stockholders of record on May 15, distributable on May 31. The market price of the stock was $15 per share on May 1. On May 31, Ronald Company issues the shares for the dividend. (Don't worry about the formatting for your answer here on Canvas. Explain which accounts are debited/credited and for how much, and then show the journal entry in its proper format in the work you submit.)