f its stock is $17 per share. Element Water Sports has 13,000 shares of $2 par value common stock outstanding. Element distributes a stock dividend when the market value Read the requirements. Requirement 1. Journalize Element's declaration of the stock dividend on May 15 and distribution on May 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by journalizing the declaration of Requirements Acd Date May. 15 1. Journalize Element's declaration of the stock dividend on May 15 and distribution on May 31. 2. What is the overall effect of the stock dividend on Element's total assets? 3. What is the overall effect on total stockholders' equity? Print Done f the s Now journalize the distribution Accoums aTma Expranauom Date Debit Creant May. 31 Choose from any list or enter any number in the input fields and then continue to the next question. This Question: 1 pt 15 of 15 (0 complete) This Test: 15 pts possible Element Water Sports has 13,000 shares of $2 par value common stock outstanding. Element distributes a 10% stock dividend when the market value of its stock is $17 per share. Read the requirements. Now journalize the distribution of the stock dividend on May 31. Accounts and Explanation Date Debit Credit May. 31 Requirement 2. What is the overall effect of the stock dividend on Element's total assets? The stock dividends have on total assets Requirement 3. What the overall effect on total stockholders' equity? on total stockholders' equity. The stock dividends have Choose from any list or enter any number in the input fields and then continue to the next