On January 31, 2020, NOP Corporations shareholders equity section shows the following balances.

NOP Corporation
Balance Sheet (partial)
As at January 31, 2020
Shareholders' Equity
Contributed Capital
Common shares, unlimited shares authorized, 27,000 shares issued and outstanding	$108,000
Retained Earnings	$770,000
Total Shareholders Equity	$878,000

Do not enter dollar signs or commas in the input boxes. Scenario 1 On January 31, 2020, after preparing the shareholders' equity section shown above, the company declared and immediately distributed a 60% stock dividend. The market price on the date of the declaration was $6. The company recorded the stock dividends by debiting retained earnings. a) Calculate the ending balance of retained earnings after the stock dividend.

NOP Corporation
Calculation of Retained Earnings
For the Month Ended January 31, 2020
Opening Balance
Less: Stock Dividend
Balance January 31, 2020

b) Prepare the shareholders equity section of the balance sheet as of January 31, 2020 (after the stock dividend has been distributed).

NOP Corporation
Balance Sheet (partial)
As of January 31, 2020
Shareholders' Equity
Contributed Capital
Common shares, unlimited shares authorized, 43,200 shares issued and outstanding
Retained Earnings
Total Shareholders Equity

Scenario 2 On January 31, 2020, after preparing the shareholders' equity section shown at the beginning of this question (excluding Scenario 1), the company implemented a 3-for-1 stock split. For this scenario, assume that the stock dividend in scenario 1 did not happen; consider only the original balance sheet. a) Calculate the number of outstanding shares. Outstanding shares:

b) Prepare the shareholders equity section of the balance sheet as of January 31, 2020 (after the stock split).

NOP Corporation
Balance Sheet (partial)
As at January 31, 2020
Shareholders' Equity
Contributed Capital
Common shares, unlimited shares authorized, x shares issued and outstanding
Retained Earnings
Total Shareholders Equity