The stockholders' equity section of the balance sheet for Heavenly Desserts Corporation on January 12, 2022, follows: (Click the icon to view the data.) On January 12, 2022, the market price of Heavenly Desserts common stock was $18 per share. Heavenly Desserts declared and distributed a 10% stock dividend on this date. Read the requirements. Requirement 1. Journalize the declaration and distribution of the 10% stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date January 12 Cash Accounts Accumulated other comprehensive income (loss) Common Stock Paid-in Capital in Excess of Par-Common Retained Earnings Help me solve this Etext pages Debit Calculator C Credit Data table 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 Heavenly Desserts had a cash balance of $600,000 on January 13, 2022. What is the maximum amount of cash dividends the company can declare? Stockholders' Equity Common stock, $0.70 par, 2,100,000 shares authorized, 500,000 shares issued Paid-in capital in excess of par-common Retained earnings Accumulated other comprehensive income (loss) Total stockholders' equity Print Done Print $ 350,000 1,076,267 7,155,000 (175,000) $ 8,406,267 X Done Clear all Check