Below is partial balance sheet of Gemilang Berhad.

Par value of stock : RM 8.00

Common Share : RM 2 million

Paid in capital : RM 6 million

Retained earnings : RM 22 million

Total Net Worth : RM 30 million

The current market price of the common share is RM24.00.

Show the effect on the companys capital position if company declares 20% stock dividend.

The company plan to have stok Split 4 for 1

Find New par value.