Question: I have the answers for this exercise. (Exercise 11-7, Wiley Plus) I only need the solution. Can you please either type the solutions here or

I have the answers for this exercise. (Exercise 11-7, Wiley Plus) I only need the solution. Can you please either type the solutions here or put in an EXCEL document? Thank you. Any help is greatly appreciated.

I have the answers for this exercise. (Exercise 11-7, Wiley Plus) I

Exercise 11-7 Your answer is correct. On October 31, the stockholders' equity section of Pele Company's balance sheet consists of common stock $519,600 and retained earnings $430,000. Pele is considering the following two courses of action: (1) Declaring a 7% stock dividend on the 86,600 $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 $15 per share. Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares. Pele Company's Balance Sheet Before After Stock Action Dividend After Stock Split Stockholders' equity $ $ $ Paid-in capital 519,600 610,530 519,600 Retained earnings 430,000 339,070 430,000 Total stockholders' equity Outstanding shares $ $ $ 949,600 949,600 949,600 86,600 92,662 173,200

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