On October 31, the stockholders' equity section of Manolo Company's balance sheet consists of common stock $648,000 and retained earnings $400,000. Manolo is considering the following two courses of action: (1) (2) Declaring a 5% stock dividend on the 81,000 $8 par value shares outstanding Effecting a 2-for-1 stock split that will reduce par value to $4 per share. The current market price is $17 per share. Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares. Manolo Company's Balance Sheet After Stock Dividend Before Action After Stock Split Stockholders' equity Paid-in capital $ $ $ Retained earnings Total stockholders' equity $ $ $ Outstanding shares