Cullumber Company has had 4 years of record eamings. Due to this success, the market price of its 460,000 shares of $2 par value common stock has increased from $13 per share to $53. During this period, paid-in capital remained the same at $2,760,000, Retalned earnings increased from $2,070,000 to $13,800,000, CEO Don Ames is considering either (1) a 15% stock dividend or (2) a 2-for-1 stock split, He asks you to show the before-and-after effects of each option on (a) retained earnings, (b) total stockholders' equity, and (c) par value per share. (b) (b) Cullumber Company has had 4 years of record eamings. Due to this success, the market price of its 460,000 shares of $2 par value common stock has increased from $13 per share to $53. During this period, paid-in capital remained the same at $2,760,000, Retalned earnings increased from $2,070,000 to $13,800,000, CEO Don Ames is considering either (1) a 15% stock dividend or (2) a 2-for-1 stock split, He asks you to show the before-and-after effects of each option on (a) retained earnings, (b) total stockholders' equity, and (c) par value per share. (b) (b)