Roberts Company distributed the following dividends to its stockholders:
(a) 300,000 shares of Nanny Corporation stock, carrying value of investment, $1,200,000; fair market value, $1,800,000.
(b) 170,000 shares of Yellowstone Company stock, a closely held corporation. The shares were purchased by Roberts three years ago at $7.50 per share, but no current market price is available.
Indicate the journal entries to account for the declaration and the payment of the dividends.