The stockholders' equity section of the balance sheet for Dairy Top Corporation on July 12, 2019, follows: (Click the icon to view the data.) On July 12, 2019, the market price of Dairy Top common stock was $19 per share. Dairy Top declared and distributed a 25% stock dividend on this date. Read the requirements Requirement 1. Journalize the declaration and distribution of the 25% stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit July 12 - X 0 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 $590,000 on July 13, 2019. What is the maximum amount of cash dividends the company can declare? $ Stockholders' Equity Common stock, $0.75 par, 2,000,000 shares authorized, 700,000 shares issued Paid-in capital in excess of par-common Retained earnings Accumulated other comprehensive income (loss) 525,000 1,506,773 7,144,000 (220,000) Total stockholders' equity $ 8,955,773