The stockholders' equity section of the balance sheet for Dairy Place Corporation on August 12, 2022, follows: (Click the icon to view the data.) On August 12, 2022, the market price of Dairy Place common stock was $18 per share. Dairy Place 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.) Date August 12 Journal Entry Accounts Debit Credit Data table Stockholders' Equity 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 Place had a cash balance of $550,000 on August 13, 2022. What is the maximum amount of cash dividends the company can declare? Common stock, $0.20 par, 2,400,000 shares authorized, 900,000 shares issued Paid-in capital in excess of par-common Retained earnings $ 180,000 1,937,280 7,144,000 (195,000) Accumulated other comprehensive income (loss) $ 9,066,280 Total stockholders' equity Print Done Print Done