On October $31,$ the stockholders' equity section of Sunland Company's balance sheet consists of common stock $$696,000$ and retained earnings $$397,000.$ Sunland is considering the following two courses of action: $(1)$ declaring a $5\%$ stock dividend on the $87,000,$$$8$ par value shares outstanding or $(2)$ effecting a $2-$for$-1$ stock split that will reduce par value to $$4$ per share. The current market price is $$15$ per share.

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