Sealand Company has 80,000 common shares outstanding. Because it wants to retain its cash for other purposes, the company decided to issue stock dividends to its shareholders. The market price of each Sealand Company share was $20. a Prepare the journal entries if the company decides to declare and issue a 10% stock dividend. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account and explanation Debit Credit When declared: Dividends Declared 200000 Stock Dividends Issuable 200000 When issued: Stock Dividends Issuable 200000 Common Shares 200000