Brief Exercise 11-9 The stockholders' equity section of Pina Colada Corp. consists of common stock ($10 par) $2,280,000 and retained earnings $595,000. A 10% stock dividend (22,800 shares) is declared when the market price per share is $15. Show the before-and-after effects of the dividend on the following. (a) (b) (c) The components of stockholders' equity. Shares outstanding. Par value per share. Before Dividend After Dividend Stockholders' equity Outstanding shares Par value per shares