The stockholders' equity section of the balance sheet for Dairy Place Corporation on January 13, 2019, follows: (Click the icon to view the data.) On January 13, 2019, the market price of Dairy Place common stock was $16 per share. Dairy Place declared and distributed a 20% stock dividend on this date. Read the requirements. Requirement 1. Joumalize the declaration and distribution of the 20% stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts January 13 Retained Earnings Common Stock Paid-in Capital in Excess of Par-Common Debit 1280000 Credit 20000 1260000 Requirement 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet. Use parentheses or a minus sign for numbers to be subtracted.) Balance Sheet (Partial) Stockholders' Equity: Common stock, $ 0.25 par, 2,400,000 shares authorized, shares Total paid-in capital Requirement 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet. Use parentheses or a minus sign for numbers to be subtracted.) Balance Sheet (Partial) Stockholders' Equity: Common stock, 0.25 par, 2,400,000 shares authorized, shares Total paid-in capital Total stockholders' equity Requirement 3. Why is total stockholders' equity unchanged by the stock dividend? The stock dividend did not change total stockholders' equity because the company gave its shareholders The company merely Requirement 4. Suppose DP had a cash balance of $500,000 on January 14, 2019. What is the maximum amount of cash dividends the company can declare? DP's maximum cash dividends Data Table Stockholders' Equity Common stock, $0.25 par, 2,400,000 shares authorized, 400,000 shares issued Paid-in capital in excess of par-common Retained earnings Accumulated other comprehensive income (loss) Total stockholders' equity Print Done $ 100,000 861,013 7,100,000 (200,000) $ 7,861,013