The stockholders' equity of Shorewood Occupational Therapy, Inc. on December 31, 2017, follows: (Click the icon to view the data.) (Click the icon to show additional information.) Read the requirements. 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 joumal entry table.) First, journalize the declaration of the stock dividend. i Data Table Date Accounts and Explanation Debit Credit Apr. 30 Stockholders' Equity Paid-In Capital: Common Stock-S2 Par Value; 1.450 shares authorized, 500 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital Relained Earnings $ 1.000 2,000 Now Joumalize the distribution of the stock dividend. Date Accounts and Explanation Debit Credit 3,000 128,000 May 15 131,000 Total Stockholders' Equity Print Done The stockholders' equity of Shorewood Occupational Therapy, Inc. on December 31, 2017, follows: (Click the icon to view the data.) (Click the icon to show additional information.) Read the requirements. Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2017. Assume Retained Earnings are $128,000 on April 30, 2018, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Shorewood Occupational Therapy, Inc. Balance Sheet (Partial) May 31, 2018 Stockholders' Equity Paid-In Capital: i More Info On April 30, 2018, the market price of Shorewood's common stock was $18 per share and the company declared an 11% stock dividend. The stock was distributed on May 15. Print Print Done Done Total Paid-In Capital Total Stockholders' Equity