Now journalize the distribution of the stock dividend. Date Accounts and Explanation Debit Credit Jul. 30 Requirement 2. How many shares of common stock are outstanding after the dividend? There are shares of common stock outstanding after the dividend. Choose from any list or enter any number in the input fields and then continue to the next question. ? Nelly, Inc. had 290,000 shares of $2 par value common stock issued and outstanding as of July 15, 2016. The company is authorized to issue 1,000,000 common shares. On July 15, 2016, Nelly declared a 35% stock dividend when the market value for Nelly's common stock was $3 per share. The stock was issued on Jul. 30. Requirements 1. Journalize the declaration and distribution of the stock dividend. 2. How many shares of common stock are outstanding after the dividend? Requirement 1. Journalize the declaration and distribution of the stock dividend. (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. Date Accounts and Explanation Debit Credit Jul. 15 Now journalize the distribution of the stock dividend