Sealand Company has 120,000 common shares outstanding. Because it wants to retain its cash for other purposes, the company decided to issue stock dividends to its shareholders. The market price of each Sealand Company share was $23. Prepare the journal entries if the company decides to declare and issue a 7% stock dividend. (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 O for the amounts.) Prepare the journal entry if instead of declaring the stock dividend the company decides to split its shares two-for-one. (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.)