P13-9 (similar to) Question Help Stock dividendFirm Columbia Paper has the following stockholders' equity account. The firm's common stock has a current market price of $27 per share. Preferred stock $120,000 Common stock (12,000 shares at $4 par) 48,000 Paid-in capital in excess of par 276,000 Retained earnings 120,000 Total stockholders' equity $564,000 a. Show the effects on Columbia of a 10% stock dividend. b. In light of your answers to part a, discuss the effects of stock dividend on stockholders' equity