6 Part 1 of 2 Required information The following information applies to the questions displayed below) The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. B Common stock-620 par value, 150,000 shares authorised, 62,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Betained earnings Total stockholders' equity $1,240,000 425,000 550,000 $2,215,000 On February 5, the directors declare o 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $36 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution No Credit Date Feb 06 Answer is complete but not entirely correct. General Journal Retained earnings Common stock dividend distributable Pald.in capital in excess of per value, Common stock Debit 108,000 1 OOO 60.000 48.000 2 Feb 28 50,000 Common slock dividend distributable Common stock, $20 par value 60.000 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) TVX COMPANY Stockholders' Equity Section of the Balance Sheet February 28 Total stockholders' equity $