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Homework: Ch 14 Corporations: Retained Earnings and the Inc Save Score: 4.38 of 7 pts 5 of 20 (6 complete) HW Score: 17.67%, 18.38 of 104 pts Exercise 14-1 (similar to) Question Help The shareholders' equity for Luongo Windows Inc. on June 30, 2020 (end of company's fiscal year), follows: 1 (Click the icon to view the data.) On August 8, 2020, the company declared a ares was $19.00 per share. Luongo Windows Inc. issued the dividend shares or Shareholder's equity - X Required 1. Journalize the declaration and distribution 2. Prepare the shareholders' equity section August ST, Common shares, 850,000 shares authorized, Shareholders' 80,000 issued and outstanding $ 300,000 Contributed Capital: Retained earnings 450,000 Common shares, 850,000 shares aut Total shareholders' equity $ 750,000 96,000 shares issued Retained earnings Print Done Total shareholders' equity Choose from any list or enter any number in the input fields and then click Check Answer. ?Homework Ch 14 Corporation:s Retained Earnings and the Incr- Score: 4. 38 of 7 pts l 4 5 of 20 (e complete)V l p l HW Score: 17. 67% 18. 38 of 104 pts @ Exercise 141 (similar to); :5 Question Help l O shareholders' equity for Luongo Windows Inc. on June 30, 2020 (end of company's scal year), follows: (Click the icon to View the data.) On August 8, 2020, the company declared a 20 percent stock dividend. On that date, the market price of the common shares was $19.00 per share. Luongo Windows Inc. issued the dividend shares on August 31, 2020. Required 1. Journalize the declaration and distribution of the stock dividend. 2. Prepare the shareholders' equity section of the balance sheet after the stock dividend distribution. August a l , zuzu A Shareholders' Equity Contributed Capital: Common shares, 850,000 shares authorized, 96,000 shares issued 300000 Retained earnings 450000 I Total shareholders' equity $ 750,000 Choose from any list or enter any number in the input fields and then click Check Answer. 7