9. A corporation, which had 18,000 shares of common stock outstanding, declared a 3-for-1 stock split. a) What will be the number of shares outstanding after the split? b) f the common stock had a market price of $240 per share before the stock split, what would be an approximate market price per share after the split? c) lournalize the entry to record the stock split. 10. On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7.5,000 shares of $50 par preferred stock were issued at $111. Journalize the entries for May 1 and May 7. 11. Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Common Stock. $50 par $1,500,000 Paid-In Capital in Excess of Par 250,000 Paid in Capital from Sale of Treasury 42,000 Stock Retained Earnings 4,350,000 Treasury Stock 155,000 Morocco Inc. reported the following results for the year ending April 30, 2012: Retained earnings, May 1, 2011 $2,870,000 Net income 530,000 Cash dividends declared 80,000 Stock dividends declared 220,000 12. Prepare a retained earnings statement for the fiscal year ended April 30, 2012