Cullumber Inc. is considering one of three options: (1) paying a $0.47 cash dividend, (2) distributing a 4% stock dividend, or (3) effecting a 3-for-1 stock split. The current fair value is $15 per share.

Help Cullumber decide what to do by completing the following chart (treat each possibility independently):

		Before Action		After Cash Dividend		After Stock Dividend		After Stock Split
Total assets		$1,883,000		$		$		$
Total liabilities		$81,000		$		$		$
Common shares		1,176,000
Retained earnings		626,000
Total shareholders equity		1,802,000
Total liabilities and shareholders equity		$1,883,000		$		$		$
Number of common shares		56,000