The stockholders' equity section of the balance sheet for Dairy Top Corporation on October 15, 2019, follows: (Click the icon to view the data.) On October 15, 2019, the market price of Dairy Top common stock was $17 per share. Dairy Top declared and distributed a 15% stock dividend on this date. Read the requirements. Requirement 1. Journalize the declaration and distribution of the 15% stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date October 15 Retained Earnings Common Stock Accounts Paid-in Capital in Excess of Par-Common Debit Credit Accumulated other comprehensive income (loss) Cash Common Stock Paid-in Capital in Excess of Par-Common Retained Earnings Requirements 1. Journalize the declaration and distribution of the stock dividend. 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. 3. Why is total stockholders' equity unchanged by the stock dividend? 4. Suppose Dairy Top had a cash balance of $620,000 on October 16, 2019. What is the maximum amount of cash dividends the company can declare? Data table Stockholders' Equity Common stock, $0.75 par, 2,800,000 shares - authorized, 700,000 shares issued Paid-in capital in excess of par-common Retained earnings $ 525,000 1,506,773 7,500,000 Accumulated other comprehensive income (loss) (170,000) $ 9,361,773 Total stockholders' equity Print Done