3 1.87 points Required information Use the following information for the Exercises 8-9 below. (Algo) [The...

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3 1.87 points Required information Use the following information for the Exercises 8-9 below. (Algo) [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 54,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 540,000 220,000 670,000 $ 1,430,000 Exercise 11-8 (Algo) Large stock dividend LO P2 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the updated stockholders' equity section after the distribution is made. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Common stock-$10 par value $ 540,000 Paid-in capital in excess of par value, common stock Retained earnings 220,000 670,000 x Total stockholders' equity $ 1,430,000 3 1.87 points Required information Use the following information for the Exercises 8-9 below. (Algo) [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 54,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 540,000 220,000 670,000 $ 1,430,000 Exercise 11-8 (Algo) Large stock dividend LO P2 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the updated stockholders' equity section after the distribution is made. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Common stock-$10 par value $ 540,000 Paid-in capital in excess of par value, common stock Retained earnings 220,000 670,000 x Total stockholders' equity $ 1,430,000