The stockholders' equity for Castaway, Inc., on December 31, 2017, follows: (Click the icon to view the stockholders' equity on December 31, 2017.) On September 30, 2018, the market price of Castaway's common stock was $17 per share and the company distributed a 15 percent stock dividend. Read the requirements. Requirement 1. Journalize the distribution of the stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Sep 30 Retained earnings Common stock Paid-in capital in excess of par-common Debit Credit 127,500 7,500 120,000 The stockholders' equity for Castaway, Inc., on December 31, 2017, follows: (Click the icon to view the stockholders' equity on December 31, 2017.) On September 30, 2018, the market price of Castaway's common stock was $17 per share and the company distributed a 15 percent stock dividend Read the requirements. Requirement 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. (Enter the accounts and labels in the proper orc sheet.) Paid-in capital: Common stock, $1 par, Stockholders' Equity 200,000 shares authorized, 57,500 shares issued and outstanding 57,500 Paid-in capital in excess of par-common Total paid-in capital Retained earnings Total stockholders' equity $ 630,000 in De quit Data table Cast Stockholders' Equity Paid-in capital: Common stock, $1 par, 200,000 shares authorized, quity 50,000 issued and outstanding $ 50,000 450,000 Paid-in capital in excess of par-common Equity Total paid in capital 500,000 130,000 Retained earnings Total stockholders' equity $ 630,000 ing mon 650,000 Print Done