On October 31, the stockholders equity section of Pele Companys balance sheet consists of common stock $790,400and retained earnings $445,100.

Pele is considering the following two courses of action:

(1)	Declaring a7% stock dividend on the98,800$8par value shares outstanding
(2)	Effecting a 2-for-1 stock split that will reduce par value to $4per share.

The current market price is $17per share.

Prepare a tabular summary of the effects of the alternative actions on the companys stockholders equity and outstanding shares