The shareholders' equity of Core Technologies Company on June 30, 2010, included the following: Common stock, $1 par; authorized, 8 million shares; issued and outstanding, 3 million shares $ 3,000,000 Paid-in capital-excess of par 12,000,000 Retained earnings 14,000,000 On April 1, 2011, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies' common stock was $30 on April 1, 2011, and $40 on June 1, 2011. Required: Prepare the journal entry to record the distribution of the stock dividend on the declaration date.