Required information [The following information applies to the questions displayed below.] The stockholders equity of TVX Company at the beginning of the day on February 5 follows: Common stock$15 par value, 150,000 shares authorized, 56,000 shares issued and outstanding $ 840,000 Paid-in capital in excess of par value, common stock 525,000 Retained earnings 675,000 Total stockholders equity $ 2,040,000 On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $34 per share on February 5 before the stock dividend. The stocks market value is $30 per share on February 28. 1. Prepare entries to record both the dividend declaration and its distribution.