Problem 2 (21 marks) Piper Paper Products (PPP) Limited's stock is currently trading at $23 per share. PPP is considering a 15 percent stock dividend. Equity accounts are shown below: a) How many new shares will be distributed as a result of the stock dividend? (2 marks) b) Show how the equity accounts will change as a result of the stock dividend? (5 marks) c) Assuming a perfect market, what will the share price be after the stock dividend? (2 marks) d) Suppose the company instead decides on a three-for-one stock split. The firm's 80 1 cent per share cash dividend on the new (post-split) shares represents an increase of 5 percent over last year's dividend on the pre-split stock. What effects does this have on the equity accounts? What was last year's dividend per share? (12 marks)