Lurrent Attempt in Progress On October 31, the stockholders' equity section of Pharoah Company consists of common stock $330,000 and retained earnings $896,000. Pharoah is considering the following two courses of action: (1) declaring a 7% stock dividend on the 33,000,$10 par value shares outstanding, or (2) effecting a 2 -for-1 stock split that will reduce par value to $5 per share. The current market price is $14 per share. Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and par value per share. \begin{tabular}{lccc} & Before & Atter & Arter \\ Action & Stock & Stock \\ \hline & Aividend & Split \\ \hline \end{tabular} Stockholders' equity Paid-in capital Commonstock In excess of par Total paid-in capital Retained earnings Total stockholders' equity Outstanding shares Par value per share. eTextbook and Media