Waveside Realty, Inc. has 130,000 shares of $3.50 par common stock outstanding. Waveside Realty, Inc, declares and distributes a 4% stock dividend when the market value of its stock is $12 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 (Recond debits first, then credits Exclude explanations from any journal entries Date May Journal Entry Accounts 31 Cash Debit Credit 2. What is the overall effect of the stock dividend on Waveside Realty's total assets? On total stockholders equity?