Problem 2- Stock Dividends The stockholders' equity section of Lucas Company's October 31, 2018, year-end balance sheet is presented below: Common stock, $25 par value Preferred stock, $50 par value Paid-in capital in excess of par Retained earnings Less treasury stock, 20,000 shares, at cost (700,000) $4,250,000 500,000 860,000 2,800,000 On November 1, 2018, the board of directors of Lucas Company declared a stock dividend on common stock, to be distributed on December 5, 2018. The market price of Lucas Company's common stock was $35 on November 1, 2018, and $37 on December 5,2018 un Record the journal entry necessary at the date of declaration, assuming that 1) A 10% stock dividend was declared. 2) A 30% stock dividend was declared