Merriam Company has 80, 000 shares authorized and 10,000 shares issued and outstanding of $4 par value common stock. The current market price of the stock is $50 per share. On December 1, 2019, the company declared and issued a 30% stock dividend.

1. Provide the journal entry when the stock dividend was issued,

2. After the stock dividend, determine the new value for each of the following items, a. # of Shares Outstanding b. Par Value c. Market Price/Share