James Patrick Co. recently declared a 10 percent stock dividend. Prior to the stock dividend, the equity section on James Patrick Co.s balance sheet was:

Common stock (12,000 shares outstanding, $2 par value)	$24,000
Additional paid-in capital	16,000
Retained earnings	10,000
Total common shareholders equity	$50,000

James Patrick Co.s stock currently sells for $5 per share. Show what the equity section of the balance sheet will look like after the stock dividend is initiated.