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Part 1 of 3 Points: 0 of 6 The stockholders' equity...

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Accounting

Part 1 of 3
Points: 0 of 6
The stockholders' equity of Shorewood Occupational Therapy, Inc. on December 31,2023, follows:
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Read the requirements.
Requirement 1. Journalize the declaration and distribution of the stock dividend. (Record debits first, the First, journalize the declaration of the stock dividend.
Requirements
Data table
Journalize the declaration and distribution of the stock dividend.
Prepare the stockholders' equity section of the balance sheet as of May 31,2024. Assume Retained Earnings are $123,000 on April 30,2024, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account.
\table[[Stockholders' Equity],[Paid-In Capital:,,],[\table[[Common Stock- $3 Par Value; 1,500 shares],[authorized,980 shares issued and outstanding]],$,2,940,
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