Matty, Inc. had 260,000 shares of $2 par value common stock issued and outstanding as of May 15, 2016. The company is authorized to issue 1,600,000 common shares. On May 15, 2016, Matty declared a 30% stock dividend when the market value for Matty's common stock was $4 per share. The stock was issued on May. 30. Requirements 1. Journalize the declaration and distribution of the stock dividend. 2. How many shares of common stock are outstanding after the dividend