Pacifica Papers Inc, needed to conserve cash, so instead of a cash dividend the board of directors declared a 15% common share dividend on June 30, 2023, distributable on July 15, 2023. Because performance during 2023 was better than expected, the company's board of directors declared a $0.40 per share cash dividend on November 15,2023 , payable on December 1,2022 , to shareholders of record on November 30, 2023. The equity section of Pacifica's December 31,2023 , balance sheet showed: Required: 1. Journalize the declaration of the share dividend. The market prices of the shares were $14.80 on June 30,2023 , and $16.60 on July 15, 2023. Assume share dividends account is used when chidends are declared. Journal entry worksheet