The stockholders' equity of Lakeside Occupational Therapy, Inc. on December 31, 2023, follows: (Click the icon to view the data.) (Click the icon to show additional information.) Read the requirements. Requirement 1. Journalize the declaration and distribution of the stock dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, journalize the declaration of the stock dividend. Data Table Data table Stockholders' Equity Paid-In Capital: Common Stock-\$1Par Value; 1,200 shares authorized, 400 shares issued and outstanding $400 Paid-In Capital in Excess of Par-Common Total Paid-In Capital Rotained Earnings Total Stockholders' Equity $122,000 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. The stockholders' equity of Lakeside Occupational Therapy, Inc. on December 31, 2023, follows: (Click the icon to view the data.) (Click the icon to show additional information.) Read the requirements. Requirement 1. Journalize the declaration and distribution of the stock dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, journalize the declaration of the stock dividend. Data Table Data table Stockholders' Equity Paid-In Capital: Common Stock-\$1Par Value; 1,200 shares authorized, 400 shares issued and outstanding $400 Paid-In Capital in Excess of Par-Common Total Paid-In Capital Rotained Earnings Total Stockholders' Equity $122,000 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