The stockholders' equity for Coeur d'Alene Marina, Inc., on December 31, 2015, follows:

On May 31, 2016, the market price of Coeur d'Alene Marina, Inc.'s common stock was $17 per share and the company distributed a 5 percent stock dividend.
Requirements
1. Journalize the declaration and distribution of the stock dividend.
2. Prepare the stockholders' equity section of the balance sheet after the stock dividend?

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Stookholders' Equity Paid-in Capital: Common Stock, $1 par, 300,000 shares authorized, 90,000 issued and outstanding Paid-in Capital in Excess of Par-Common Total Paid-in Capital Retained Earnings Total Stockholders' Equity $ 90,000 450,000 330,000 $780,000