Element 1Water Sports has 13,000 shares of $1 par value common stock outstanding. Element distributes a 5% stock dividend when the market value of its stock is $15 per share. Requirements 1. Journalize Element's declaration of the stock dividend on August 15 and distribution on August 31. 2. What is the overall e'eot of the stock dividend on Element's total assets? 3. 1What is the overall effect on total stockholders' equity