The stockholders equity section of Maley Corporations balance sheet consists of common stock ($8 par) $1,064,000 and retained earnings $464,000. A 10% stock dividend (13,300 shares) is declared when the market price per share is $19.

(a) Show the before-and-after effects of the dividend on the components of stockholders equity.

(b) Show the before-and-after effects of the dividend on the shares outstanding.