=+LG 5 P14–9 Stock dividend: Firm The stockholders’ equity account for Paper Manufacturers is shown below. The firm’s common stock has a current market price of $20 per share.

Preferred stock $100,000 Common stock (120,000 shares at $4 par) $480,000 Paid-in capital in excess of par $1,920,000 Retained earnings $360,000 Total stockholders’ equity $2,860,000