Prepare the appropriate journal entries for the declaration on December 1 and payment or distribution of the dividend on December 15 , assuming the board of directors recommends a 6% stock dividend. Prepare the shareholders' equity section of Raven's balance sheet at December 31, assuming the board of directors recommends a 6% stock dividend. Prepare the shareholders' equity section of Raven's balance sheet at December 31, assuming the board of directors recommends a 40% stock dividend. Raven Company General Ledger ASSETS 111 Cash 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment 189 Accumulated Depreciation LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue 261 Income Taxes Payable EQUITY 311 Common Stock 315 Common Stock to be Distributed 322 Additional Paid-in Capital on Common Stock 324 Additional Paid-in Capital from Stock Dividend 331 Retained Earnings REVENUE 411 Sales Revenue EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 910 Income Tax Expense Prepare the appropriate journal entries for the declaration on December 1 and payment or distribution of the dividend on December 15 , assuming the board of directors recommends a 40% stock dividend