On October 31, the stockholders' equity section of Night King Company's balance sheet consists of common stock $500,000 and retained earnings $500,000. Night King is considering the following two courses of action: (Action #1) declaring a 10% stock dividend on the 50,000 $10 par value shares outstanding or (Action #2) affecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $15 per share.

Make the calculations below (Dollar signs and commas are not necessary.):

Calculate total paid-in capital (Common stock + paid in capital in excess of par) under Action #1:

Calculate total paid-in capital (Common stock + paid in capital in excess of par) under Action #2:

Calculate outstanding shares under Action #1:

Calculate outstanding shares under Action #2: