On May 1, 2004 Lett Corp. declared and issued a 15% common stock dividend. Prior to this dividend, Lett had 100,000 shares of $1 par value common stock issued and outstanding. The fair value of Lett's common stock was $20 per share on May 1, 2004. As a result of this stock dividend, Lett's total stockholders' equity
a. increased by $300,000.
b. decreased by $300,000.
c. decreased by $15,000.
d. did not change.