why req2 ans is 403,000?

Mally, Inc. had 310,000 shares of $4 par value common stock issued and outstanding as of August 15, 2016. The company is authorized to issue 1,700,000 common shares. On August 15, 2016, Matty declared a 30% stock dividend when the market value for Matty's common stock was $6 per share. The stock was issued on Aug. 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 b oumnalizing the declaration of the stock dividend. Debit Credit Date Aug 15 Accounts and Explanation Stock Dividends Common Stock Dividend Distributable 372.000 372.000 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers wwwwwwwwww Now journalize the distribution of the stock dividend, Date Accounts and Explanation Aug. 30 Common Stock Dividend Distributable Common Stock-$4 Par Value Credit Debit 372.000 372,000 issued 30% stock dividend. JEJO This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers Issued 30% stock dividend, Requirement 2. How many shares of common stock are outstanding after the dividend? There are 403,000 shares of common stock outstanding after the dividend