The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2013.

Current assets                                 $540,000
Debt investments                               624,000
Common stock (par value $10)         500,000
Paid-in capital in excess of par         150,000
Retained earnings                              840,000

Instructions
Prepare the required journal entries for the following unrelated items.
  (a) A 5% stock dividend is declared and distributed at a time when the market price per share is $39.
  (b) The par value of the common stock is reduced to $2 with a 5-for-1 stock split.
  (c) A dividend is declared January 5, 2014, and paid January 25, 2014, in bonds held as an investment. The bonds have a book value of $100,000 and a fair value of $135,000.