The stockholders' equity of Lakeville 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 More info On April 30, 2024, the market price of Lakeville's common stock was $13 per share and the company declared a 5% 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 $128,000 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