Stock Dividends

The Stockholders' Equity category of Samuel Enterprises' balance sheet as of January 1, 2016, appeared as follows:

Common stock, $10 par, 31,000 shares issued and outstanding	$310,000
Additional paid-in capital	100,000
Retained earnings	400,000
Total stockholders' equity	$810,000

The following transactions occurred during 2016:

Declared a 10% stock dividend to common stockholders on January 15. At the time of the dividend, the common stock was selling for $30 per share. The stock dividend was to be issued to stockholders on January 30, 2016.

Distributed the stock dividend to the stockholders on January 30, 2016.

1. Record the 2016 events.

2. Develop the Stockholders' Equity category of Samuel Enterprises' balance sheet as of January 31, 2016, after the stock dividend was issued.