Do It! Review 11-3b Cullumber Company has had 4 years of record earnings. Due to this success, the market price of its 505,000 shares of $4 par value common stock has increased from $14 per share to $52. During this period, paid-in capital remained the same at $6,060 000 Retained earnings increased from $4,545,000 to $30,300,000. 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 carnings, (b) total stockholders cquity, and (c) par value per share. 1. Stock dividend retained earnings 2. 2-for-1 stock split - retained earnings Original Balance After Dividend After Split Paid-in capital Retained earnings Total stockholder's equity Shares outstanding 1. Stock dividend - par value per share 2. 2-for-1 stock split - par value per share Click if you would like to Show Work for this