please help me solve this problem. thank you for youre help!

Vaughn Corporation has outstanding 2,981,000 shares of common stock with a par value of $10 each. The balance in its Retained Earnings account at lanuary 1, 2020, was $24,083,000, and it then had Pald-in Capital in Excess of Par-Common Stock of. $4,991,000. During 2020, the company's net income was $4,741,000. A cash dividend of $0.60 a share was declared on May 5,2020 . and was paid June 30,2020 , and a 6% stock dividend was declared on November 30,2020 , and distributed to stockholders of record at the close of business on December 31, 2020. You have been asked to advise on the proper accounting treatment of the stock dividend. The existing stock of the company is quoted on a national stock exchange. The market price of the stock has been as followss (a and b) - Youriacsweris partiallycorrect. (a) Prepare the journal entry to record (4) the declaration and (2) payment of the cash diyidend. (b) Prepare the journa entry to record (4) the declaration and (2i distribution of the stock dividend. (c1) The parts of this question must be completed in order. This part will be availabie when you complete the part above