X Sul Data table $ Stockholders' Equity Common stock, $0.80 par, 2,800,000 shares authorized, 500,000 shares issued Paid-in capital in excess of par-common Retained earnings Accumulated other comprehensive income (loss) Total stockholders' equity 400,000 1,076,267 7,144,000 (195,000) $ 8,425,267 Print Done 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 Place had a cash balance of $570,000 on May 12, 2019. What is the maximum amount of cash dividends the company can declare? Print Done The stockholders' equity section of the balance sheet for Dairy Place Corporation on May 11, 2019, follows: (Click the icon to view the data.) On May 11, 2019, the market price of Dairy Place common stock was $17 per share. Dairy Place declared and distributed a 15% stock dividend on this date. Read the requirements Requirement 1. Journalize the declaration and distribution of the 15% stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit May 11 V Requirement 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet. Use parentheses or a minus sign for numbers to be subtracted.) Balance Sheet (Partial) Stockholders' Equity: $ par, shares shares Total paid-in capital Total stockholders' equity Requirement 3. Why is total stockholders' equity unchanged by the stock dividend? The stock dividend did not change total stockholders' equity because the company gave its shareholders V. The company merely Requirement 4. Suppose DP had a cash balance of $570,000 on May 12, 2019. What is the maximum amount of cash dividends the company can declare? DP's maximum cash dividends