13-5 Final On June 30, 2017, Sharper Corporation's common stock is is priced at $65 per share before any stock dividend or split, and its stockholders' equity section of the balance sheet appears as follows: Com. stock - $10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding $500,000 Paid-in capital in excess of par value, common stock 200,000 Retained earnings 660,000 Total stockholders' equity $1,360,000 1. Assume the company declares and immediately distributes a 75% stock dividend. This event is recorded by capitalizing retained earnings equal to the stocks par value. Answer these questions about stockholders' equity as it exists after issuing the new shares. a. What is the retained earnings balance? b. What is the amount of total stockholders' equity? c. How many shares are outstanding? 2. Assume the company implements a 7 for 4 split instead of the stock dividend in part 1. Answer these questions about stockholders' equity as it exists after issuing the new shares. a. What is the retained earnings balance? b. What is the amount of total stockholders' equity? c. How many shares are outstanding