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The shareholders equity of Core Technologies Company on June 30, 2017, included the following: ...

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Accounting

The shareholders equity of Core Technologies Company on June 30, 2017, included the following:

Common stock, $1 par; authorized, 5 million shares; issued and outstanding, 2 million shares $ 2,000,000
Paid-in capitalexcess of par 8,000,000
Retained earnings 14,000,000

On April 1, 2018, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies common stock was $32 on April 1, 2018, and $42 on June 1, 2018.

Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend.

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