Windsor, Inc. has had 4 years of record earnings. Due to this success, the market price of its 350,000 outstanding shares of $2 par value common stock has increased from $6 per share to $52. During this period, paid-in capital remained the same at $2,610,000. Retained earnings increased from $1,740,000 to $12,700,000. CEO Don Ames is considering either a 16% stock dividend or a 2-for-1 stock split. (a) Your answer is correct. He asks you to show the before-and-after effects of each option on retained earnings. Retained earnings after stock dividend- $ 9788000 Retained earnings after stock split $ 12700000