E10-33A (similar to) The stockholders' equity section of the balance sheet for Perfect Desserts Corporation on August 13, 2019, follows: (Click the icon to view the data.) On August 13, 2019, the market price of Perfect Desserts common stock was $16 per share. Perfect Desserts declared and distributed a 9% stock dividend on this date. Read the requirements Requirements -X Requirement 1. Journalize the declaration and distribution of the 9% stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) 1. Journalize the declaration and distribution of the stock dividend. 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. 3. Why is total stockholders' equity unchanged by the stock dividend? 4. Suppose Perfect Desserts had a cash balance of $590,000 on August 14, 2019. What is the maximum amount of cash dividends the company can declare? Date Debit Credit August Journal Entry Accounts 13 Retained Earnings Common Stock Paid-in Capital in Excess of ParCommon 576,000 12,600 Print Done 563.400 Requirement 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet. Use parentheses or a minus sign for numbers to be subtracted.) - X Data Table $ 0.35 par, 3000000 shares authorized, Balance Sheet (Partial) Stockholders' Equity Common stock, shares Paid-in capital in excess of par-common Total paid-in capital Retained earnings Accumulated other comprehensive income (loss) $ Stockholders' Equity Common stock, $0.35 par, 3,000,000 shares authorized, 400,000 shares issued Paid-in capital in excess of par-common Retained earnings Accumulated other comprehensive income (loss) 140,000 861,013 7,122,000 (175,000 Total stockholders' equity $ 7,948,013 Total stockholders' equity Print Done