Problem 12.2 for Self-Study Journal entries for dividends and stock splits. The shareholders' equity section of the balance sheet of Baker Corporation on January 1, Year 5 , appears below: Prepare journal entries for each of the following transactions of Baker Corporation for Year 5. Ignore income taxes. a. March 31: The board of directors declares a cash dividend of $0.50 per share. The firm will pay the dividend on April 15. b. April 15: The firm pays the dividend declared on March 31 . c. June 30: The board of directors declares and distributes a 10-percent stock dividend. The market price per share on this date is $15. d. December 31: The board of directors declares a 2-for-1 stock split and changes the par value of the common shares from $10 to $5