Waveside Realty, Inc., has 100,000 shares of $3.50 par common stock outstanding. Waveside Realty, Inc., declares and distributes a 15% stock dividend when the market value of its stock is $8 per share. 1. Journalize Waveside Realty's declaration and distribution of the stock dividend on May 31. An explanation is not required. 2. What is the overall effect of the stock dividend on Waveside Realty's total assets? On total stockholders' equity? 1. Journalize Waveside Realty's declaration and distribution of the stock dividend on May 31. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit May 31 2. What is the overall effect of the stock dividend on Waveside Realty's total assets? On total stockholders' equity? The stock dividends have on total assets. The stock dividends have on total stockholders' equity. a negative effect a positive effect no effect