7) The May 31 balance sheet of Eastwood Corporation carried the following shareholders' equity section: Shareholders' Equity Common shares, no par value, 25,000 shares authorized, 20,000 shares issued $200,000 Retained earnings 44,000 Total shareholders' equity $244,000 On the balance sheet date, with the common selling at $12 per share, the corporation's board of directors voted a 2,000-share stock dividend distributable on June 30 to the June 20 shareholders of record. 1. In the space below give without explanations the entries to record the declaration and distribution of the dividend. DATE ACCOUNT TITLES AND EXPLANATION P.R. DEBIT CREDIT 2. Harold Jax owned 2,000 of the corporation's common shares before the declaration and distribution of the stock dividend; as a result, his portion of the dividend was shares. The total book value of Jax's 2,000 shares before the dividend was $ the total book value of his shares after the dividend was $ ; consequently, Jax gained $ in the book value of his interest in the corporation