Required information [The following information applies to the questions displayed below.] The following stockholders' equity Information is for Lotus Company: LOTUS COMPANY October 1, 2020 Connon stock-$20 par value, 150,880 shares authorized, 56,880 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,120,000 428,eee 549, eee $2,097,298 On October 2, the directors declare a 14% stock dividend distributable on October 31 to the October 15 stockholders of record. The stock's market value is $40 per share on October 2. 1. Prepare the requled journal entries to record the dividend declaration and the dividend distribution. View transaction et Journal entry worksheet