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Brief Exercise 14-03 Your answer is partially correct. Try again. Oriole Corporation has 54,000 shares of $12 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $17. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit X Dec. 1 V Retained Earnings 137700 Common Stock Dividends Distributable 97200 Paid-in Capital in Excess of Par-Common Stock 40500 Dec. 31 Common Stock Dividends Distributable 97200 Common Stock 97200 Click if you would like to Show Work for this question: Open Show Work