Pharoah AG has had 4 years of net income. Due to this success, the market price of its 450,000 shares of 2 par value ordinary shares has increased from 13 per share to 49. During this period, total share capital and share premium remained the same at 2,420,000. Retained earnings increased from 1,870,000 to 12,300,000. CEO E. David is considering either a 15% share dividend or a 2-for-1 share split. He asks you to show the before-and after effects of each option on retained earnings and total equity