On June 30, the board of directors of Sandals, Inc., declares a 100% stock dividend on its 22000 $1 par, common shares.

On June 30, the board of directors of Sandals, Inc., declares a 100% stock dividend on its 22000 $1 par, common shares. The market price of sandals common stock is $27 on June 30.

Record the stock dividend. (If entry is required for a transaction/event, select “No journal entry required” in the first account field.)