Question: On October 31, the stockholders' equity section of Marina Landscape balance sheet consists of common stock $648,000 and retained earnings $391,000. Marina is considering the following two courses of action:
(1) Declaring a 6% stock dividend on the 81,000 $8 par value shares outstanding.
(2) Effecting a 2-for-1 stock split that will reduce par value to $4 per share.
The current market price is $16 per share.
How would be able to put together a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares.
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