The following data were taken from the SFP accounts of Sarasota Corporation on December 31, 2020: Current assets $ 1,044,000 FV-NI investments 843,000 Common shares (unlimited authorized, 590,000 shares issued and outstanding) 4,720,000 Contributed surplus 310,000 Retained earnings 1,760,000

1) A 7% stock dividend is declared at their fair value and distributed at a time when the shares fair value is $46 per share. Prepare the required journal entries. (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.)

a) (To record stock dividend declaration)

b) (To record stock dividend distribution)

2) A 2-for-1 stock split is effected. Prepare the required journal entry. (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.)

3) A dividend in kind is declared on January 8, 2021 and paid on January 28, 2021 in FV-NI investments. The investments have a carrying amount of $160,000 (fair value at December 31, 2020) and a January 8 fair value of $164,000. Prepare the required journal entries. (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.)