The stockholders' equity of Shoreside Occupational Therapy, Inc. on December 31, 2023, follows: (Click the icon to view the data.) i (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. Date Accounts and Explanation Debit Credit - Data table Apr. 30 Stock Dividends 825 Common Stock Dividend Distributable 55 Paid-In Capital in Excess of ParCommon 770 Declared an 11% stock dividend. . Stockholders' Equity Paid-In Capital: Common Stock-$1 Par Value; 1,450 shares authorized, 500 shares issued and outstanding $ Paid-In Capital in Excess of ParCommon Total Paid-In Capital 500 Now journalize the distribution of the stock dividend. 2,000 Date Accounts and Explanation Debit Credit 2,500 May 15 Common Stock Dividend Distributable 55 Retained Earnings 125,000 Common Stock-$1 Par Value 55 $ 127,500 Total Stockholders' Equity Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2023. Assume Retained Earnings are $125,000 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. More info Shoreside Occupational Therapy, Inc. Balance Sheet (Partial) May 31, 2024 Stockholders' Equity Paid-In Capital: On April 30, 2024, the market price of Shoreside's common stock was $15 per share and the company declared an 11% stock dividend. The stock was distributed on May 15. Print Done Total Paid-In Capital Total Stockholders' Equity