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Garber Corporation had 40,000 shares of $10 par common stock outstanding on January 1, 2016. On June 1, 2016 Garber purchased 5,000 shares of its own stock on the open market for $22 per share and held it as treasury stock. On October 1, 2016 Garber declared and issued a 10% stock dividend. The market value of Garber's stock was $24 per share on October 1. Garber's board of directors declared and paid a cash dividend of $57,750 on December 15, 2016.a) Prepare the journal entry for the treasury stock purchase.b) Prepare the journal entry for the stock dividend.c) Prepare the journal entry for the cash dividend.