Gilligan corporation was established on february 15, year 1. gilligan is authorized to issue 500,000 shares of $6.00 par value common stock. as of december 30, year 1, gilligan's stockholders' equity accounts report the following balances: common stock, $6 par, 500,000 shares authorized 55,000 shares issued and outstanding $ 330,000 paid-in capital in excess of par - common 440,000 $ 770,000 retained earnings 1,400,000 total stockholders' equity $ 2,170,000 on december 31, year 1, gilligan decides to issue a 5% stock dividend. at the time of issue, the market price of the stock was $22 per share. how will the issuance of the stock dividend affect the financial statements?