Data table The stockholders' equity of Shorewood Occupational Therapy, Inc. on December 31, 2023, follows: (Click the icon to view the data.) (Click the icon to show additional information.) Read the 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. Now journalize the distribution of the stock dividend. Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31,2023 . Assume Retained Earnings are $129,000 on April 30,2024 , before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Shorewood Occupational Therapy, Inc. Balance Sheet (Partial) May 31, 2024 Stockholders' Equity Paid-In Capital: Common Stock-\$2 Par Value; 1,100 shares authorized, \begin{tabular}{lr|} \hline 700 shares issued and outstanding & 784 \\ \hline Paid-In Capital in Excess of Par-Common & 3,178 \\ Total Paid-In Capital & 3,962 \\ Retained Earnings & 129,462 \\ \hline Total Stockholders' Equity & 133,424 \\ \hline \end{tabular} Data table The stockholders' equity of Shorewood Occupational Therapy, Inc. on December 31, 2023, follows: (Click the icon to view the data.) (Click the icon to show additional information.) Read the 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. Now journalize the distribution of the stock dividend. Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31,2023 . Assume Retained Earnings are $129,000 on April 30,2024 , before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Shorewood Occupational Therapy, Inc. Balance Sheet (Partial) May 31, 2024 Stockholders' Equity Paid-In Capital: Common Stock-\$2 Par Value; 1,100 shares authorized, \begin{tabular}{lr|} \hline 700 shares issued and outstanding & 784 \\ \hline Paid-In Capital in Excess of Par-Common & 3,178 \\ Total Paid-In Capital & 3,962 \\ Retained Earnings & 129,462 \\ \hline Total Stockholders' Equity & 133,424 \\ \hline \end{tabular}