On October $31,$ the stockholders' equity section of Cullumber Company's balance sheet consists of common stock

$$684,000$ and retained earnings $$414,000.$ Cullumber is considering the following two courses of action: $(1)$ declaring

a $6\%$ stock dividend on the $85,500,$$$8$ par value shares outstanding or $(2)$ effecting a $2-$for$-1$ stock split that will reduce

par value to $$4$ per share. The current market price is $$14$ per share.

Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and

outstanding shares.