Exercise 11-7 Your answer is partially correct. Try again. On October 31, the stockholders' equity section of Blossom Company's balance sheet consists of common stock $501,000 and retained earnings $412,000. Blossom is considering the following two courses of action: (1) Declaring a 5% stock dividend on the 83,500 $6 par value shares outstanding (2) Effecting a 2-for-1 stock split that will reduce par value to $3 per share. The current market price is $18 per share. Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares. Blossom Company's Balance Sheet After Stock Dividend After Stock Before Action Split Stockholders' equity 501000 501000 Paid-in capital Retained earnings 412000 412000 Total stockholders' equity Outstanding shares Click if you would like to Show Work for this question: Open Show Work