The Following Information Is Available for Pencil Corporation: Common Stock $\$ 1,600,000$

Essay

The following information is available for Pencil Corporation: Common Stock ($5 par) $\$ 1,600,000$
Retained Earnings $\quad 1,300,000$ A 20% stock dividend is declared and paid when the market value was $16 per share.
Instructions
Compute each of the following after the stock dividend.
(a) Total stockholders' equity.
(b) Number of shares outstanding.