The stockholders' equity of Lakeside Occupational Therapy, Inc, on December 31, 2023, follows: (Click the icon to view the data) (C) (Click the icon to show additional information.) Reod the reoulrements Requirement 1. Joumalize the declaration and dithribution of the stock dividend. (Aecord debits first, then credes. Select the erplanation on the last line of the pumal matry table.) First, journalze the deciaration of the stock dividend. Now journalize the distribution of the stock dividend Requirement 2. Prepare the stocholders' equity section of the balance sheet as of May 31, 2023. Assume Retained Earnings are 3120,000 on Apri 30, 2024, before the mock dividend, and the only chanee made to Retained Eaminas bolore Dresorino the balance sheet was dosina the 5lock Dividends acoount. The stockholders' oqulty of Lakeside Occupational Therapy, Inc, on December 31, 2023, follows: (Click the leon to view the data) (i (Click the icon to show additonal information) Resd the reguirements. Requirement 2. Prepare the stockholders' equity section of the balance sheet as of Mary 31, 2023. Assume Rotained Earrings are 5120,000 on Apri 30,2024, before the stock dividend, and the only change made to Retained Eamings belore preparing the balance sheet was dosing the Stock Divdends scoount. Data table More info 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. Requirements 1. Journalize the declaration and distribution of the stock dividend. 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