Exercise 11-7 On October 31, the stockholders' equity section of Wildhorse Co.'s balance sheet consists of common stock $330,000 and retained earnings $411,000. Wildhorse is considering the following two courses of action: (1) Declaring a 7% stock dividend on the 82,500 $4 par value shares outstanding (2) Effecting a 2-for-1 stock split that will reduce par value to $2 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. Wildhorse Co.'s Balance Sheet Before Action After Stock Dividend After Stock Split Stockholders' equity Paid-in capital Retained earnings Total stockholders' equity s Outstanding shares