Entries for Stock Divdends Aovaniced Life Co. is an HMo for busnesses in the Abvquerque ares. The foliowing account balances appear on the baiance sheet of Advanced Life Co.; Commsan stpok (330,000 shayes suthecized; 3,000 shares issued), $125 par, $375,000; Paid-in capital in excess of par- common stock, 575,000 - and Aetained eariling, $3,375,000. The board of directors declared a 2% fock olvdend when the market price of the stock was $164 a share. Advanced ufe Co, reported no income or loss for the current Yest. a1. Journalize the entry to record the declaration of the dividend, capilalizing an amount equal to market value. If an amount box does not require an entry, leove it bilink a2. Wournalize the entry to record the issuance of the stock certificates. If an amount box does not roquire an entry, leave it blanki. c. Determine the foldwing ameunts after the stock digicend was deciared and closing entries were recorded at the end of the yeari (1) total paid lin capizal, (2) total retained earnings, and (3) total stocktholders' equity