Fango Company's president would like to know the financial impact that a cash dividend and a stock dividend will have on the company's retained earnings account. The current balance in retained earnings is \($500,000.\) The company has 10,000 shares of \($1\) par value common stock outstanding with a current market value of \($20\) per share. The potential cash dividend will be \($3\) per share and the potential stock dividend will be ten percent. Required Compute the Fango Company retained earnings balance after a. A \($3\) per share cash dividend b. A ten percent stock dividend