On October 31, the stockholders' equity section ofOrioleCompany consists of common stock $325,000and retained earnings $895,000.Orioleis considering the following two courses of action: (1) declaring a6% stock dividend on the32,500, $10par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5per share. The current market price is $14per share.

A tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and par value per share.

Before Action After Stock Dividend After Stock Split

Common stock ? ? ?

In excess of par ? ? ?

Total paid-in capital ? ? ?

Retained earnings ? ? ?

Total stockholders' equity ? ? ?

Outstanding shares ? ? ?

Par value per share ? ? ?