Problem 15-11 Bramble Corporation has outstanding 3,003,000 shares with common stock of a par value of 10 each. The balance in its Retained Earnings account at January 1, 2017, was $24,142,000, and it then had Paid-in Capital in Excess of Par-Common Stock of $5,049,000. During 2017, the company's net income was $4,737,000. A cash dividend of $0.60 a share was declared on May 5 2017, and was paid June 30, 2017, and a 6% stock dividend was declared on November 30, 2017 and distributed to stockholders of record at the close of business on December 31, 2017. You have been asked to advise on the proper accounting treatment of the stock dividend Statement of Retained Earnings The existing stock of the company is quoted on a national stock exchange. The market price of the stock has been as follows. October 31, 2017 November 30, 2017 $32 December 31, 2017 Prepare the journal entry to record (1) the declaration and (2) payment of the cash (a) dividend. (b) Prepare the journal entry to record (1) the declaration and (2) distribution of the stock (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit BRAMBLE CORPORATION Prepare the stockholders' equity section (including schedules of retained earnings and additional paid-in capital) of the balance sheet of Bramble Corporation for the year 2017 on the hasis.at the foregoing information. (List items that increase retained earnings first.) Click if you would like to Show Work for this question: Open Show Work Schedule of Additional Paid-in Capital