Tyler Corp. is authorized to issue 100,000 shares of its preferred stock.
	During the year, the company had the following transactions related to preferred stock:
10-Feb	Issued preferred stock for cash
	Number of shares issued	30,000
	Par value per share	$ 40
	Market price per share	$ 55
10-Mar	Issued preferred stock for equipment having an asking price of			$ 700,000
	Number of shares issued	10,000	shares
	Par value per share	$ 40
	Market price per share	$ 60
	Instructions: Prepare the journal entries for these two transactions.

10-Oct	The Board of Directors of Pitcher Corp. declared a 5% stock dividend.
	Par value per share of common stock			$ 1.00
	Market price per share of common stock			$ 15.00
	Number of shares issued and outstanding at October 10			10,000
	The stock dividend will be distributed on October 31.
	INSTRUCTIONS: Prepare the journal entries for the declaration of the stock dividend and
	the distribution of the stock dividend.