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E11-7 On October 31, the stockholders' equity section of Manolo Company's balance sheet consists of...

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Accounting

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E11-7 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) declaring a 5% stock dmdend on the 81 000 S8 par value shares outstanding or (2) effecting a 2-for-1 stock split that will reduce par value to $4 per share. The current market price is $17 per share Instructions Prepare a tabular summary of the effects of the altermative a headings Before Action, After Stock Dividead, and After Stock Split actions on the company's stockholders' equity and outstanding shares Use these column

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