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

Current assets $535,000

Debt investments 662,000

Common stock (par value $10) 453,000

Paid-in capital in excess of par 159,000

Retained earnings 883,000

Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically indented when 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.)

(a) A 5% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $42.

(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 $100,000 and a fair value of $140,000.

No. Date Account Titles and Explanation Debit Credit Retained Earnings 95130 Common Stock Dividend Distributable Paid-in Capital in Excess of Par Common Stock Common Stock Dividend Distributable Common Stock No Entry No Entry