Please explain and answer all parts a. and b.

Stock dividend-Firm Columbia Paper has the following stockholders' equity account. The firm's common stock has a current market price of $28 per share. a. Show the effects on Columbia of a 20% stock dividend. b. In light of your answers to part a, discuss the effects of stock dividend on stockholders' equity. a. The preferred stock of Columbia after a 20% stock dividend is $ (Round to the nearest dollar.)