The stockholders’ equity section of Melanie Corporation consists of common stock ($10 par) $2,000,000 and retained earnings $500,000. A 10% stock dividend (20,000 shares) is declared when the market value per share is $14. Show the before and after effects of the dividend on the following.
  (a) The components of stockholders’ equity.
  (b) Shares outstanding.
  (c) Par value per share.