nect.mheduca Saved ! Required information [The following information applies to the questions displayed below.) The following stockholders' equity information is for Lotus Company: LOTUS COMPANY October 1, 2020 Common stock-$15 par value, 150,000 shares authorized, 65,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 975,000 420,000 546,000 $1,941,000 On October 2, the directors declare a 18% stock dividend distributable on October 31 to the October 15 stockholder record, The stock's market value is $41 per share on October 2. 1. Prepare the requied journal entries to record the dividend declaration and the dividend distribution. View transaction list Journal entry worksheet > Record the declaration of a 18% stock dividend. Note: Enter debits before credits Debit Credit Date Oct. 2 General Journal Retained earnings Common stock dividend distributable Paid-in capital in excess of par value, Common stock