The following is the shareholders equity section of Concord Corp. at December 31, 2020:

Preferred shares,a authorized 110,000 shares; issued 27,000 shares		$	945,000
Common shares (unlimited authorized, 55,000 issued)			1,375,000
Contributed surplus			110,000
Total paid-in capital			2,430,000
Retained earnings			2,714,600
Total shareholders equity		$	5,144,600

^a The preferred shares have a $2 dividend rate, are cumulative, and participate in distributions in excess of a $3 dividend on the common shares.

The company decides instead that it will declare a 20% stock dividend on the outstanding common shares at their fair value. The common shares fair value on the date of declaration is $45 per share. Prepare the entry on the date of declaration. (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.)

Account Titles and Explanation	Debit	Credit