The stockholders' equity for Cohen Jewelry Corporation on September 30, 19X4-end of the company's fiscal year-follows:

On November 16, the market price of Cohen's common stock was \(\$ 14\) per share and the company declared a 10 -percent stock dividend. Cohen issued the dividend shares on November 30.
\section*{Required}
1. Journalize the declaration and distribution of the stock dividend.
2. Prepare the stockholders' equity section of the balance sheet after the issuance of the stock dividend.

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Stockholders' Equity Common stock, $10 par, 100,000 shares authorized, 50,000 shares issued Paid-in capital in excess of par-common... Retained earnings.. Total stockholders' equity. $500,000 50,000 340,000 $890,000