The following data were taken from the balance sheet accounts of Culver Corporation on December 31, 2016.

Current Assets $575000

Debt Investments. 567000

Commom Stock (par value $10) 535000

Paid in Capital in excess of par 139000

Retained Earnings 802000

Prepare the required journal entries for the following unrelated items.

a. A 5% stock dividend is 1 declared and 2 distributed at a time when the market price per share is $39.

b. The par value of the common stock is reduced to $2 with a 5 for 1 stock split.

c. A dividend is declared January 5, 2017 and paid January 25, 2017 in bonds held as an investment. The bonds have a book value of $101000 and a fair value of $134000.