Stake Company reported the following summarized balance sheet data as of December 31, 20X2 Cash Accounts Receivable Inventory Buildings & Equipment Less: Accumulated Depreciation Total Assets $ 41,000 140,000 199,000 $ 31,000 87.000 97.eee 295,000 (130,000) $ 380,000 Accounts Payable Common Stock Retained Earnings Total Habilities & Equities $380,000 Stake issues 5,000 additional shares of its $10 par value stock to its shareholders as a stock dividend on April 20, 20X3. The market price of Stake's shares at the time of the stock dividend is $55 Stake reports net income of $33.000 and pays a $15.000 wash dividend in 20X3. Pole Company acquired 70 percent of Stake's common shares at book value on January 1, 20X1. At that late, the fair value of the noncontrolling interest was equal to 30 percent of Stake's book value. Pole uses the equity method in accounting for its investment in Stake, Required: Prepare the journal entries recorded by Stake and Pole at the time the stock dividend is declared and distributed. (If no entry -equired for a transaction/event, select "No journal entry required in the first account field.) Required: a Prepare the journal entries recorded by Stake and Pole at the time the stock dividend is declared and distributed. (If no er required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal Debit Credit Stock dividends declared 50,000 Common stock 50,000 B 2 No journal entry required A Record the basic consolidation entry. Note: Enter debits before credits. Event Credit Debit 190,000 199,000 Accounts Common stock Retained earnings Income from Stake Co. INCI in NI of Stake Co Dividends declared Stock dividends declared investment in Stake Co. INCHI NA of Stake Co. Record the basic consolidation entry. Note: Enter debits before credits. Event Debit Credit Accounts Common stock Retained earnings Investment in Stake Co. NCI in NA of Stake Co