On October 31, the stockholders' equity section of Skysong, Inc. consists of common stock $270,000 and retained earnings $884,000. Skysong is considering the following two courses of action: (1) declaring a 4% stock dividend on the 27,000, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $16 per share. Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and par value per share. After After Before Stock Stock Action Dividend Split Stockholders' equity Paid-in capital Common stock In excess of par Total paid-in capital Retained earnings Total stockholders' equity Outstanding shares Par value per share