spears company has had 4 years of record earnings. due to this success, the market price of its 400,000 shares of $2 par value common stock has increased from $6 per share to $50. during this period, paid-in capital remained the same at 52,400,000. retained earnings increased from $1,800,000 to $12,000,000. 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. 2-for-1 stock split - retained earnings b) spears company original balance after dividend after split paid-in capital retained earnings total stockholder's equity shares outstanding (c 1 stock dividend -par value per share 2. 2-for-1 stock split - par value per share s