Master Metal Products Ltd. had the following shareholders' equity at October 31, 2020 (Click the icon to view the shareholders' equity.) Suppose that on November 14, 2020, Master Metal Products Ltd. consolidated its common shares 1 for 2 in order to increase the market price of its shares that were trading at $10.50 on October 31, 2020. Required 1. Make the memorandum entry to record the share consolidation. 2. Prepare the shareholders' equity section of Master Metal Products Ltd.'s balance sheet after the share consolidation. 3. What would you expect the market price to be, approximately, after the reverse split? Requirement 1. Make the memorandum entry to record the share consolidation. November 14, 2020. Consolidated the outstanding common shares 1 for 2. This decreased the outstanding shares from 95,000 to 47,500 Requirement 2. Prepare the shareholders' equity section of Master Metal Products Ltd.'s balance sheet after the share consolidation Shareholders' equity - X Master Metal Products Inc. Partial Balance Sheet November 14, 2020 Common shares, unlimited shares authorized, 95,000 shares issued and outstanding $ 230.000 Shareholders' Equity Retained earnings 480,000 Contributed Capital: $ Total shareholders' equity 710,000 Total shareholders' equity Print Done Choose from any list or enter any number in the input fields and then click Check