Homework: Chapter 6 Graded Homework Score: 0 of 10 pts E13-29 (similar to The stockholders' equity of Lakeville Occupational Therapy. Inc. on December 31, 2017, follows: 6of9(7complete) B(Cilick the icon to view the data.) (Click the loon to show additional information.) Read the requirements Requirement 1Joumalize the declaration and distribution of the stock dividend.(Record debits first First, joumalize the declaration of the stock dividend. then credits. Select the explanation on the last line of the jounal entry table.) Data Table More Info Stockholders' Equity On April 30, 2018, the market price of Lakeville's common stock was $11 per share and the company declared a 14% stock dividend. The stock was distributed on May 15. Paid-in Capital: Common Stock-$2 Par Value: 1,150 shares authorized, 450 shares issued and outstanding Paid-in Capital in Excess of Par Common Total Paid-In Capital 1,800 2,700 128,000 $ 130,700 1. Joumalize the declaration and distribution of the stock dividend 2. Prepare the stockholders' equity section of the balance sheet as of May 31, Retained Earnings 2018. Assume Retained Eamings are $128,000 on Api 30, 2018, before the stock dividend, and the only change made to Retained Earmings before preparing the balance sheet was closing the Stock Dividends account Total Stockholders' Equit)y Print Done Print Done Choose from any list or enter any number in the input fiolds and then click Clear All