a Complete the following assignment and submit your work to the mpbox. Background Information: Cipper Corporation is authorized to issue an unlimited number of no par 5 value common shares, and has 'lDU DDD shares outstanding. The business has the following balances in its shareholders' equity accounts: Cipper Corporation Shareholders' Equity Common Shares $308 000 Retained Earnings 12B 000 Total Equity $428 000 As you can see, the company has enough in its Retained Earnings account to declare a dividend. The board of directors has decided to either pay a 31 per share cash dividend or issue one share 5 for every four shares each shareholder owns. The current market price is 54 per share. \"value of Cash Dividend: i DUE} outstanding shares X $1 = $11313 ODD value of Stock Dividend: 'lDU DUE] l 4 x 4 = 25 DDD shares @ $4 each = $1DD DOD What effect does each scenario have on total shareholders' equity? |Dipper Corporation Shareholders' Before Cash Stock Equity Dividend Dividend Dividend Common Shares $300 DUO $313K} [11313 $308 000 Retained Earnings 120 DUO 2D [11313 12B 000 Total Equity $420 DUO $32!?! $42!] DUO Eloolt'value per share {Equityi' shares} $4.20 $3.213 $3.36 Required: Assume that you own 800 shares in Cipper Corporation. Calculate the dividend you would receive from a cash dividend and from a stock dividend. As a shareholder: which would you prefer? Explain why in as much detail as possible