On January 15, 2014, Agard International’s board of directors declared a 3-for-1 stock split of its $12 per value common stock, of which 1,600,000 shares were authorized and 400,000 were issued and outstanding. The market value on that date was $45 per share. On the same date, the balance of additional paid-in capital was $8,000,000, and the balance of retained earnings was $16,000,000. Prepare the stockholders’ equity section of Agard’s balance sheet before and after the stock split. What entry, if any, is needed to record the stock split?