Exercise 11-11 On October 31, the stockholders' equity section of Blossom Company's balance sheet consists of common stock $501,000 and retained earnings $412,000. Blossom is considering the following two courses of action: (1) Declaring a 5% stock dividend on the 83,500 $6 par value shares outstanding (2) Effecting a 2-for-1 stock split that will reduce par value to $3 per share. The current market price is $18 per share. Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares. Blossom Company's Balance Sheet Before Action After Stock Dividend After Stock Split Stockholders' equity Paid-in capital Retained earnings Total stockholders' equity $ Outstanding shares Click if you would like to Show Work for this question: Open Show Work