Cullumber Company has had 4 years of record earnings. Due to this success, the market price of its500,000shares of $4par value common stock has increased from $14per share to $53. During this period, paid-in capital remained the same at $6,000,000. Retained earnings increased from $4,500,000to $30,000,000. CEO Don Ames is considering either (1) a15% 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.