(Learning Objective 4: Recording a share dividend) Centerville Bancshares has 13,000 shares of $3 par ordinary shares outstanding. Suppose Centerville distributes a 15% shares dividend when the market value of its shares is $25 per share.

1. Journalize Centerville’s distribution of the share dividend on May 11. An explanation is not required.

2. What was the overall effect of the share dividend on Centerville’s total assets? On total liabilities? On total shareholders’ equity?