Stock dividend: Firm Columbia Paper has the following stockholders' equity account. The firm's common stock has a current market price of $29 per share Preferred stock Common stock (12,000 shares at $4 par) Paid-in capital in excess of par Retained earnings Total stockholders' equity $120,000 48,000 300,000 120,000 $588,000 a. Show the effects on Columbia of a 20% stock dividend. b. In light of part a, discuss the effects of stock dividend on stockholders' equity