On October 31, the stockholders' equity section of Sunland Company's balance sheet consists of common stock $784,000 and retained earnings $408,000. Sunland is considering the following two courses of action: (1) declaring a 5% stock dividend on the 98,000,$8 par value shares outstanding or (2) effecting a 2 -for-1 stock split that will reduce par value to $4 per share. The current market price is $16 per share. Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares
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