The stockholders' equity of Lakeshore Occupational Therapy, Inc. on December 31, 2023, follows:

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Data table More info On April 30, 2024, the market price of Lakeshore's common stock was \$15 per share and the company declared a 10% stock dividend. The stock was distributed on May 15. n April 30,20 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 journat entry. table.) First, journalize the declaration of the stock dividend. Now joumalize the distribution of the stock dividend. Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2023, Assume Retained Eamings are $129,000 on April 30,2024 , before the stock dividend, and the only change made to Relained Earnings before preparing the balance sheet was closing the Stock Dividends account