Prepare the journal entries for each of the above transactions. If no entry is required, then state No Entry. Show all calculations.

Capital Company had shareholders' equity on December 31, 2013, as follows: $ Preferred shares, $2 non-cumulative 20,000 shares issued and outstanding Common shares, 275,000 shares issued and outstanding Retained earnings 380,000 1,650,000 1,026,000 The following transactions occurred during 2014: Jan 1 Jan 31 Feb 28 Mar 1 The board of directors declared a 15% stock dividend to the common shareholders of record on January 31, payable February 28. The stock was selling for $6.50 per share. Date of record for stock dividend. Stock certificates for January 1 dividend are issued. A cash dividend of $198,125 was declared by the board of directors to shareholders of record on March 15, payable Mar 31. Date of record for cash dividend. Paid the cash dividend. The board of directors declared a 4:1 common stock split, effective July 1st. Sold 350,000 common shares for $6.00 each. Mar 15 Mar 31 Jul 1 Oct 1 Dec 31 Capital Company earned net income of $492,000 for the year