Sandhill Co$.$ has had $4$ years of record earnings. Due to this success, the market price of its $455,000$ shares of $$2$ par value common stock has increased from $$14$ per share to $$54.$ During this period, paid$-$in capital remained the same at $$2,730,000.$ Retained earnings increased from $$4,095,000$ to $$27,300,000.$ CEO Don Ames is considering either $(1)$ a $15\%$ stock dividend or $(2)$ a $2-$for$-1$ stock split. He asks you to show the before$-$and$-$after effects of each option on $($a$)$ retained earnings, $($b$)$ total stockholders' equity, and $($c$)$ par value per share.

$($a$)$

Stock dividend $-$ retained earnings

$2-$for$-1$ stock split $-$ retained earnings

$($b$)$

$($c$)$

Stock dividend $-$ par value per share

:$\text{'}$

Paid$-$in capital

Retained earnings

Total stockholders equity

Shares outstanding

Shares outstanding

After Dividend

$

$27300000$

$

$$

$

$$