Do It! Review 11-3b Sunland Company has had 4 years of record earnings. Due to this success, the market price of its 475,000 shares of $4 par value common stock has increased from $14 per share to $51. During this period, paid-in capital remained the same at $5,700,000. Retained earnings increased from $4,275,000 to$28,500,000. 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. 1. Stock dividend retained earnings 2. 2-for-1 stock split- retained earnings s Sunland Company Original Balance After Dividend After Split Paid-in capital Retained earnings Total stockholder's equity Shares outstanding 2. 2-for-1 stock split par value per share