The shareholders' equity of Raven Company is as shown: Raven is considering the declaration and issuance of a stock dividend at a time when the market price is $30 per share. Raven is considering the deciaration and issuance of a stock dividend at a time when the market price is $30 per share. Required: 1. Assuming the boand of directors recommends a 6% stock dividend, propare: a. the journal entry at the date of declaration b. the journal entry at the date of issuance c. shareholders' equity after the issuance 2. Assuming, instead, that a 40% stock dividend is recommended, answer a, b, and c of Requirement 1. GENERAL JOURNAL. DATE ACCOUNT TILE POST. REF. DEBIT CREOII Prepare the appropriate joumal entries for the declaration on Decomber I and payment or distribution of the dividend on Decamber 15 assumng the board of dirictors incoummenda a 40\% stock dividend. General doumal instructions Prepare the shareholders' equily section of Raven's balance sheet at December 31 , assuming the board of directors rocommends a 6% stock dividond. Prepare the shareholders' equity section of Raven's balance sheet at December 31, assuming the board of directors recormmends a 4oss stock dividend