Greenview Water Sports has 16,000 shares of $1 par value common stock outstanding. Greenview distributes a 5% stock dividend when the market value of its stock is $25 per share. Read the requirements. Requirement 1. Journalize Greenview's declaration of the stock dividend on August 15 and distribution on August 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by journalizing the declaration of the stock dividend on August 15. Date Aug. 15 Accounts and Explanation Now journalize the distribution of the stock dividend on August 31. Date Aug. 31 Accounts and Explanation Debit Credit Debit Credit Requirement 2. What is the overall effect of the stock dividend on Greenview's total assets? The stock dividends have on total assets. Requirement 3. What is the overall effect on total stockholders' equity? The stock dividends have on total stockholders' equity