ENTRIES FOR SHARE DIVIDENDS Ruiz Med-care Inc, is a health insurance company. The following account balances appear on the statement of financial position of Ruiz Med-care Inc.: Ordinary Shares (50,000 shares authorized), P10 par, P400,000; Share Premium- ordinary, P42,500; and Retained Earnings, P299,500. The board of directors declared a 4% share dividend when the market price of the stock was P15 as share. Required: 1. Journalize the entries to record a. The declaration of the dividend b. The issuance of the shares 2. Determine the following amounts before the share dividend was declared: a. Total share capital b. Total retained earnings Total shareholders' equity 3. Determine the following amounts after the share dividend was declared: Total share capital b. Total retained earnings c. Total shareholders' equity C. a