The stockholders’ equity account for Paper Manufacturers is shown below. The firm’s common stock has a current market price of $20 per share. Preferred stock $100,000 Common stock (120,000 shares

The stockholders’ equity account for Paper Manufacturers is shown below. The firm’s common stock has a current market price of $20 per share. Preferred stock                                                               $100,000 Common stock (120,000 shares at $4 par)                    $480,000 Paid-in capital in excess of par                                   $1,920,000 Retained earnings                                                           $360,000 Total stockholders’ equity                              $2,860,000 How will the stockholders’ equity account changes if Paper Manufacturers pays a 5% stock dividend? How will the stockholders’ equity account changes if Paper Manufactures pays (1) a 10% and (2) a 15% stock dividend? are the effects of stock dividends on stockholders’ equity?

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