On October 31, the stockholders' equity section of Heins Company consists of common stock $310,000 and retained earnings $892,000. Heins is considering the following two courses of action: (1) declaring a 5% stock dividend on the 31,000, $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. Before Action After Stock Dividend After Stock Split Stockholders' equity Paid-in capital Common stock 310000 3115500 310000 In excess of par 6200 Total paid-in capital 310000 310000 Retained earnings 892000 892000 Total stockholders' equity 1202000 1202000 12020001 Outstanding shares 31000 32150 Par value per share 10 10