The following information applies to the questions displayed below.] The stockholders equity of TVX Company at the beginning of the day on February 5 follows: Common stock$25 par value, 150,000 shares authorized, 72,000 shares issued and outstanding $ 1,800,000 Paid-in capital in excess of par value, common stock 525,000 Retained earnings 675,000 Total stockholders equity $ 3,000,000 On February 5, the directors declare a 16% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $41 per share on February 5 before the stock dividend. The stocks market value is $35 per share on February 28.

1. Prepare entries to record both the dividend declaration and its distribution.

-Record the declaration of 16% stock dividend. for feb 5

-Record the distribution of 16% stock dividend. for feb 28