On October 31, the stockholders equity section of Sandhill Co.s balance sheet consists of common stock $356,000 and retained earnings $399,000. Sandhill is considering the following two courses of action:

(1)		Declaring a 6% stock dividend on the 89,000 $4 par value shares outstanding
(2)		Effecting a 2-for-1 stock split that will reduce par value to $2 per share.

The current market price is $18 per share. Prepare a tabular summary of the effects of the alternative actions on the companys stockholders equity and outstanding shares.