Your answer is partially correct. Try again. On January 1, 2017, Blue Spruce Corp. had $1,420,000 of common stock outstanding that was issued at par and retained earnings of $719,000. The company issued 22,000 shares of common stock at par on July 1 and earned net income of $495,000 for the year. Journalize the declaration of a 17% stock dividend on December 10, 2017, for the following two independent assumptions. (credit account titles are automatically indented when amount is entered. Do not indent manualy. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) Par value is $10 and market price is $17. (b) Par value is $5 and market price is $8. No. Account Titles and Explanation Debit Credit (a) Stock Dividends 473,960 Common Stock Dividends Distributable 27,880 Paid-in Capital in Excess of Par Value-Common St 446,080 (b) Stock Dividends 223,040 Common Stock Dividends Distributable 139,400 Paid-in Capital in Excess of Par Value-Common St 83,640 Click if you would like to Show Work for this question: Qpen Show Work