Concord Company has had $4$ years of net income. Due to this success, the market price of its $315,500$ shares of $$5$ par value common stock has increased from $$15$ per share to $$52.$ During this period, paid$-$in capital remained the same at $$2,490,000.$ Retained earnings increased from $$1,700,000$ to $$11,400,000.$ President E$.$ Rife is considering either a $14\%$ stock dividend or a $2-$for$-1$ stock split.

$($a$)$

Your answer is incorrect.

He asks you to show the before$-$and$-$after effects of each option on retained earnings.

Retained earnings after stock dividend $ $$

Retained earnings after stock split

$