Stockholders' Equity Paid-In Capital: Common Stock-\$1 Par Value; 1,200 shares authorized, 400 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity $4001,6002,000120,000$122,000 On April 30, 2024, the market price of Lakeside's common stock was $16 per share and the company declared a 13% stock dividend. The stock was distributed on May 15. 2. Prepare the stockholders' equity section of the balance sheet as of May 31 , 2024. Assume Retained Earnings are $120,000 on April 30, 2024, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Requirement 1. Joumalize the declaration and distribution of the stock dividend. (Record debits first, then credits Select the explanation on the last line of the joumal entry table.) First, joumalize the declaration of the stock dividend. Stockholders' Equity Paid-In Capital: Common Stock-\$1 Par Value; 1,200 shares authorized, 400 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity $4001,6002,000120,000$122,000 On April 30, 2024, the market price of Lakeside's common stock was $16 per share and the company declared a 13% stock dividend. The stock was distributed on May 15. 2. Prepare the stockholders' equity section of the balance sheet as of May 31 , 2024. Assume Retained Earnings are $120,000 on April 30, 2024, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Requirement 1. Joumalize the declaration and distribution of the stock dividend. (Record debits first, then credits Select the explanation on the last line of the joumal entry table.) First, joumalize the declaration of the stock dividend