Milwaukee Tool has the following stockholders' equity account. The firm's common stock currently sells for $2.63 per share.

Preferred Stock	$91,000
Common Stock (100,000 shares at $0.91 par)	91,000
Paid-in Capital in excess of par	217,000
Retained earnings	390,000
Total Stockholders equity	$789,000

a. Show the effects on the firm of a cash dividend of $0.01 per share. b. Show the effects on the firm of a 1% stock dividend. c.Compare the effects in parts a and b. What are the significant differences between the two methods of paying dividends?

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