More Info The stockholders' equity of Shoreside Occupational Therapy, Inc. on December 31, 2017, follows: B (Click the icon to view the data.) i (Click the icon to show additional information.) Read the requirements. On April 30, 2018, the market price of Shoreside's common stock was $13 per share and the company declared an 11% stock dividend. The stock was distributed on May 15. Issued 11% stock dividend. Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2017. Assume R change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends accou Data Table Shoreside Occupational Therapy, Inc. Balance Sheet (Partial) May 31, 2018 Stockholders' Equity Stockholders' Equity Paid-In Capital: Paid-In Capital: Common Stock-$1 Par Value; 1,300 shares authorized, $ Common Stock-$1 Par Value; 1,300 shares authorized, 500 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital 500 2,000 2,500 123,000 Retained Earnings Paid-In Capital in Excess of ParCommon Total Paid-In Capital Retained Earnings $ 125,500 Total Stockholders' Equity Total Stockholders' Equity Print Done Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2017. Assume Retained Earnings are $123,000 on April 30, 2018, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. IYUCULUL 1.UUUITIUIZU LICUCUIUIUIUIUTI UULIIDULUI UI LIICULUUIUIVIUCIIU. ICCUIUCULU TIIUL, LLICITULUI. CICUL LIC LAPIUTUL First, journalize the declaration of the stock dividend. Date Accounts and Explanation Debit Credit Apr. 30 715 Stock Dividends Common Stock Dividend Distributable Paid-In Capital in Excess of ParCommon Declared an 11% stock dividend. Now journalize the distribution of the stock dividend. Date Accounts and Explanation Debit Credit May 15 55 Common Stock Dividend Distributable Common Stock-$1 Par Value Issued 11% stock dividend