At the end of the $20$X$4$ fiscal year, the shareholders$$ equity section of the statement of financial position of Chomney Corp. was as follows:

Shareholders$$ Equity

Contributed Capital

Share capital:

Preferred shares, no par value, $$1\mathrm{.}25,$ cumulative and nonparticipating, unlimited shares authorized, $40,500$ shares issued and outstanding $ $1,005,000$

Common shares, no par value, unlimited shares authorized, $366,500$ shares issued and outstanding $2,680,000$

Other contributed capital: Common share retirement $46,400$

Total contributed capital $3,731,400$

Retained earnings $12,006,000$

AOCI for unrealized exchange gain on translation of foreign subsidiary $95,500$

Total Shareholders$$ Equity $$15,832,900$

The board of directors was considering three alternatives:

Case $1$ A $200\%$ stock dividend for common shares, to be recorded as a memo entry.

Case $2$ A $200\%$ stock dividend to be recorded at the fair value of the common shares, or $$11$ per share.

Case $3$ A $3-$for$-1$ common stock split.

Required:

$1.$ Prepare the shareholders$$ equity section, in three columns, with each column reflecting one of the alternatives above.

$2.$ This part of the question is not part of your Connect assignment.

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