The stockholders' equity section of Swifty Corporation's balance sheet consists of common stock ($8 par) $1,016,000 and retained earnings $450,000. A 15% stock dividend (19,050 shares) is declared when the market price per share is $18.
(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.