Superior Corporation has the following shares outstanding:

Preferred shares: 6 percent; par $15; 8,000 outstanding shares

Common shares: par $8; 30,000 outstanding shares

On October 1, 2020, the board of directors declared dividends as follows:

Preferred shares: Full cash preference amount, payable December 20, 2020

Common shares: 10 percent common stock dividend (i.e., one additional share for each 10 held), to be issued on December 20, 2020.

On December 20, 2020, the market prices were preferred shares, $40, and common shares, $32. Required: Indicate the direction and amount of change in total assets, liabilities, and shareholders equity as a result of: (a) declaration of the cash dividend on October 1, (b) payment of the cash dividend on December 20, and (c) a 10 percent common stock dividend on December 20. (If the transaction has no affect on the statement, select "No effect" from the dropdown.)