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On June 3 0 , Sharper Corporation s stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper

On June 30, Sharper Corporations 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, 56,000 shares issued and outstanding $ 560,000
Paid-in capital in excess of par value, common stock 230,000
Retained earnings 675,000
Total stockholders equity $ 1,465,000
Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split.
(1) Prepare the updated stockholders' equity section after the split.
(2) Compute the number of shares outstanding after the split.

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