Stock dividend-Firm Columbia Paper has the following stockholders' equity account. The firm's common stock has a current market price of $35 per share. \begin{tabular}{lr} Preferred stock & $110,000 \\ Common stock (12,000 shares at $3 par) & 36,000 \\ Paid-in capital in excess of par & 384,000 \\ Retained earnings & 90,000 \\ Total stockholders' equity & $620,000 \\ \hline \end{tabular} 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