The shareholders' equity for Cappelli Windows Inc. on June 30, 2020 (end of company's fiscal 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. Cappelli 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. Requirement 1. Journalize the declaration and distribution of the stock dividend. Shareholder's equity X Begin with the declaration of the stock dividend. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Common shares, 950,000 shares authorized, 80,000 issued and outstanding Aug. $ 340,000 450,000 Retained earnings $ 790.000 Total shareholders' equity Print Done