After closing the books at month end on March 31, 2013, EFG Corporations Stockholders equity section shows the following balances:

Stock Capital
Common Stock, unlimited authorized 33,000 Stock issued and outstanding	$350,000
Retained Earnings	$810,000
Total Stockholders Equity	$1,160,000

Do not enter dollar signs or commas in the input boxes. Scenario 1 The company declared and immediately distributed a 92% Stock dividend. Current market price was $12. The company recorded the Stock dividends by debiting Retained Earnings. a) Prepare the statement of retained earnings after the Stock dividend.

EFG Corporation
Statement of Retained Earnings
For the Month Ended March 31, 2013
Opening Balance	Answer
Less: Stock Dividend	Answer
Balance March 31, 2013	Answer

b) Prepare the Stockholders equity section of the balance sheet as at March 31, 2013 (after the Stock dividend has been distributed).

EFG Corporation
Stockholders' Equity
As at March 31, 2013
Stock Capital
Common Stock, unlimited authorized 63,360 Stock issued and outstanding	Answer
Retained Earnings	Answer
Total Stockholders Equity	Answer

Scenario 2 As a separate scenario from Scenario 1, the company implemented a 2-for-1 Stock split. a) Calculate the number of outstanding Stock. Outstanding Stock: Answer shares b) Prepare the Stockholders equity section of the balance sheet as at March 31, 2013 (after the Stock split has been completed).

EFG Corporation
Stockholders' Equity
As at March 31, 2013
Stock Capital
Common Stock, unlimited authorized, xxx Stock issued and outstanding	Answer
Retained Earnings	Answer
Total Stockholders Equity	Answer