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Data Table Stockholders' Equity Paid-In Capital: Common Stock-$1 Par Value; 1.450 shares authorized, 800 shares issued and outstanding $ 800 3,200 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 4,000 123,000 Retained Earnings 127,000 Total Stockholders' Equity Print Done The stockholders' equity of Poolside Occupational Therapy, Inc. on December 31, 2017, follows: (Click the icon to view the data.) (Click the icon to show additional information.) Read the requirements Requirement 1. Journalize the declaration and distribution of the stock dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, journalize the declaration of the stock dividend. Accounts and Explanation Date Debit Credit Apr. 30 Now journalize the distribution of the stock dividend. Date Accounts and Explanation Debit Credit May 15 Ranirament 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2017. Assume Retained Earnings are $123,000 on Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2017. Assume Retained Earnings are $123,000 on April 30, 2018, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Poolside Occupational Therapy, Inc. Balance Sheet (Partial) May 31, 2018 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity * More Info On April 30, 2018, the market price of Poolside's common stock was $12 per share and the company declared a 7% stock dividend. The stock was distributed on May.15. Print Done