E11-7 On October 31, the stockholders' equity section of Manolo Companys ba consists of common stock $648,000 and retained earnings $400,000. Manolo is co ing the following two courses ofaction: (1) declaring a 5% stock dividend on the 81 $8 par value shares outstanding or (2) effecting a 2-for-1 stock split that will reduce value to $4 per share. The current market price is $17 per share. Instructions Prepare a tabular summary of the effects of the alternative actions on the company's stoc holders' equity and outstanding shares. Use these column headings: Before Action, After Stock Dividend, and After Stock Split. nsider- ,000 par k