On October 31, the stockholders equity section of Pele Company's balance sheet consists of common stock $564,000 and retained earnings $423,500.

Pele is considering the following two courses of action:

(1)Declaring a 6% stock dividend on the 94,000 $6 par value shares outstanding

(2)Effecting a 2-for-1 stock split that will reduce par value to $3 per share.

The current market price is $13 per share.

Prepare a tabular summary of the effects of the alternative actions on the company