Superior Corporation has the following capital stock outstanding:

On October 1, 2010, the board of directors declared dividends as follows:

On December 20, 2010, the market prices were preferred stock, \(\$ 40\), and common stock, \(\$ 32\).
Required:
At each date indicated above, describe the overall effect of the cash and stock dividends on the assets, liabilities, and stockholders' equity of the company.

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Preferred stock, 6 percent, par $15, outstanding shares, 8,000. Common stock, par $8, outstanding shares, 30,000.