The market value balance sheet for Briggs Manufacturing is shown here. The company has declared a 30 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend). There are 28,000 shares of stock outstanding.

Market Value Balance Sheet
Cash	$	116,000		Debt	$	237,600
Fixed assets		900,000		Equity		778,400
Total	$	1,016,000		Total	$	1,016,000