On May 1, Downtown Software Ltd. has 86,000 common shares issued and outstanding. Suppose Downtown distributes a 12\% stock dividend on May 11 when the market price (fair value) of its shares is $12.00 per share. Requirement 1. Journalize Downtown's declaration of the shares dividend. An explanation is not required. (Record debits first, then credits. Explanations are not required.) Downtown's total assets? What about on its total liabilities and its total shareholders' equity? The stock dividends have on total assets. The stock dividends have on total liabilities. The stock dividends have on total shareholders' equit