Stock dividend: Firm Columbia Paper has the following stockholders' equity account. The firm's common stock has a current market price of $30 per share. Preferred stock Common stock (9,000 shares at $1 par) Paid-in capital in excess of par Retained earnings Total stockholders' equity $90,000 9,000 261,000 100,000 $460,000 a. Show the effects on Columbia of a 5% stock dividend. b. In light of part a, discuss the effects of stock dividend on stockholders' equity