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5 Stake Company reported the following summarized balance sheet data as of December 31, 20X2: 5 points Accounts Payable Common Stock Retained Earnings $ 46, eee 110,eee 212, eee Cash Accounts Receivable Inventory Buildings & Equipment Less: Accumulated Depreciation Total Assets $ 31, eee 85,eee 96,eee 281, eee (125,eee) $ 368,000 Total Liabilities & Equities $368,888 eBook Print Stake Issues 4.700 additional shares of Its $10 par value stock to its shareholders as a stock dividend on April 20, 20X3. The market price of Stake's shares at the time of the stock dividend is $55. Stake reports net Income of $26,000 and pays a $12.500 cash dividend in 20X3. Pole Company acquired 70 percent of Stake's common shares at book value on January 1, 20X1. At that date, the fair value of the noncontrolling interest was equal to 30 percent of Stake's book value. Pole uses the equity method in accounting for Its Investment in Stake. Required: a. Prepare the journal entries recorded by Stake and Pole at the time the stock dividend is declared and distributed. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) References View transaction Mat Journal entry worksheet Record the basic consolidation entry, Note: Enter debits before credits Event Accounts Debit Credit 1 Record entry Clear entry view consolidation entries points C. Prepare the worksheet consolidation entry needed to prepare a consolidated balance sheet on January 1, 20X4. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook view transaction let Print Consolidation Worksheet Entries References