Gilligan Corporation was established on February 15 , Year 1. Gilligan is authorized to issue 375,000 shares of $12 par value common stock. As of December 30 , Year 1 , Gilligan's stockholders' equity accounts report the following balances: On December 31 , Year 1, Gilligan decides to issue a 6% stock dividend. At the time of issue, the market price of the stock was $22 per share. What is the number of shares outstanding after the stock dividend is issued? Multiple Choice 37,500 shares 377,250 shares 35,250 shares 39,750 shares