Exercise 152 al-a2 On January 1, 2020, Raleish Corporation had $2,000,000 of $10 par value common stock outstanding that was issued at par and retained earnings of $1,000,000. The company issued 200,000 shares of common stock at $12 per share on July 1. On December 15, the board of directors declared a 15% stock dividend to stockholders of record on December 31, 2020, payable on January 15, 2021. The market value of Raleish Corporation stock was $15 per share on December 15 and $16 per share on December 31. Net income for 2020 was $500,000. Your answer is partially correct. Try again. Journalize the issuance of stock on July 1 and the declaration of the stock dividend on December 15. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit July 1 Cash 2400000 Common Stock 2000000 Paid-in Capital in Excess of Par-Common Stock 400000 Dec. 15 Stock Dividends Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Prepare the stockholders' equity section of the balance sheet for Raleish Corporation at December 31, 2020. RALEISH CORPORATION Balance Sheet (Partial) December 31, 2020 Stockholders' Equity Paid-in Capital Capital Stock Common Stock, $10 Par Value, 400,000 Shares Issued and Outstanding 4000000 Common Stock Dividends Distributable Total Capital Stock Additional Paid-in Capital in Excess of Par Total Paid-in Capital Retained Earnings Total Stockholders' Equity Click if you would like to Show Work for this question: Open Show Work