5 Required information The following information applies to the questions displayed below) Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 300,000 shares of S12 par value common stock. As of December 31 Year 3. Giligan's stockholders' equity accounts report the following balances: $360,000 0.000 Common stock, $12 par, 300,000 shares authorized 39,000 shares issued and outstanding Taid.in capital in excess of par Com Metained earnings Total stockholders' Equity $420,000 1.410.000 $1,030,000 At the end of Year 3, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $20 per share What is the number of shares outstanding after the stock dividend is issued? Multiple Choice 35 Required information The following information applies to the questions displayed below) Gilligan Corporation was established on February 15, Year 1. Giligin is authorized to issue 300.000 shares of $12 par value common stock. As of December 31. Year 3, Gilligan's stockholders' equity accounts report the following balances: Panto 10 DO $360,000 0.000 Common stock, 512 pr 100.000 shares authorized 3,000 shares Issued an outstanding Paid in catalins of porno Metalning Total stockholders Loulty 8.00 420.000 1.410,00 At the end of Year 3. Gigan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $20 per share What is the amount of retained earnings that will be transferred to paid in capital as a result of the stock dividend issued by Gligon Corporation? Multiple choice