Exercise 14-03a-b (Video) On January 1, 2020, Pharoah Corporation had $1,435,000 of common stock outstanding that was issued at par. It also had retained earnings of $748,000. The company issued 45,000 shares of common stock at par on July 1 and earned net income of $410,000 for the year Journalize the declaration of a 15% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Par value is $10, and market orice is $18. b. Par value is $5, and market price is $22. No. Account Titles and Explanation Debit Credit Click if you would like to show Work for this questions Gene Wack FULL SCREEN & BACK On January 1, 2020, Pharoah Corporation had $1,435,000 of common stock outstanding that was issued at par. It also had retained earnings of $748,000. The company issued 45,000 shares of common stock at par on July 1 and earned net income of $410,000 for the year Journalize the declaration of a 15% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Par value is $10, and market price is $18. b. Par value is $5, and market price is $22. No. Account Titles and Explanation Debut Credit Stock Dividends 508,950 Common Stock Dividends Distributable 282,750 E Paid-in Capital in Excess of Par. Common Stock 226,200 b. Stock Dividends 1,095,600 249.000 Common Stock Dividends Distributable 546,600 Paid in Capital in Excess of Par-Common Stock ck if you would like to show Work for this question Open Show Work