Effective April 27, the shareholders of Dorr Corp. approved a 2-for-1 split of its common stock and an increase in authorized common shares from 100,000 shares (par value $20 per share) to 200,000 shares (par value $10 per share). Dorrs equity accounts immediately before issuance of the stock-split shares were as follows: | Common stock, par value $20; 100,000 shares authorized; 50,000 shares outstanding | $1,000,000 | | Additional paid-in capital ($3 per share on issuance of common stock) | 150,000 | | Retained earnings | 1,350,000 | The stock-split shares were issued on June 30. In Dorrs June 30 statement of equity, the balances of additional paid-in capital and retained earnings are |
