of 2 5 points eBook Hint References Required information Use the following information for the Exercises 8-9 below. (Algo) [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 60,000 shares issued and outstanding. Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 600,000 250,000 685,000 $ 1,535,000 Exercise 11-8 (Algo) Large stock dividend LO P2 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs below. Exercise 11-8 (Algo) Large stock dividend LO P2 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the updated stockholders' equity section after the distribution is made. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Common stock-$10 par value $ 900,000 Paid-in capital in excess of par value, common stock 250,000 Retained earnings 385,000 Total stockholders' equity $ 1,535,000 Required 1 Required 2 > Exercise 11-8 (Algo) Large stock dividend LO P2 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of shares outstanding after the distribution is made. Number of common shares outstanding