The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2019 is as follows:

Stockholders' Equity

Common stock, $5 par value; authorized, 2,000,000 shares;

Issued and outstanding, 600,000 shares $3,000,000

Paid-in capital in excess of par 850,000

Retained earnings 4,500,000

Total Stockholders Equity $8,350,000

On January 1, 2020, Benton Corporation declared a 15% stock dividend. The fair value of Benton Corporation commons was $12 per share on January 1, 2020. Prepare the necessary journal entry to record the declaration of the 15% stock dividend (note, you only need to prepare the entry at declaration)

please show any work