Company X has had 4 years of record earnings. Due to this success, the market price of its 800,000 shares of $0.50 par value common stock has increased from $3.50 per share to $29. During this period, paid-in capital (which includes par and additional-paid-in-capital) remained the same at $2,800,000. Retained earnings grew over time to $30,000,000. The CEO is considering either (1) a 15% stock dividend or (2) a 2-for-1 stock split. She has asked you to show the before-and-after effects of each option on (a) retained earnings, (b) total stockholders equity, and (c) number of shares outstanding.

Create a worksheet in your spreadsheet with:

1. Four columns (put the following title at the top of each column)

   • Description

   • Original Balance

   • After Dividend

   • After Split

2. Five rows:

   • A title row as described above

   • Paid-in Capital

   • Retained Earnings

   • Total Stockholders' Equity

   • Shares Outstanding

3. All values as described by the rows and columns, which neat formatting.