25. Blue Sky Corporation began the current year with a retained earnings balance of $32,000. During the year, the company corrected an error made in the prior year, which was a failure to record a depreciation expense of $3,000 on equipment. Also, during the current year, the company earned net income of $12,000 and declared cash dividends of $7,000. Prepare the statement of Retained Earnings for Blue Sky Corporation Blue Sky Corporation Statement of Retained Earnings Year Ended December 31, 20Y1 Retained Earnings, January 1, 20Y1, as originally reported Prior Adjustment Retained Earnings, January 1, 20Y1, as adjusted Net Income for the year Dividend Declared Retained Earnings, December 31, 20Y1 26. Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant Corporation, which had 50,000 shares of $150 par common stock outstanding, declared a 3-for-1 stock split. What will be the number of shares outstanding after the split? 2. b. What will be the par value after the split