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. 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.

Common stock$$$$10$ par value, $70,000$ shares issued and outstanding $ $700,000$

Paid$-$in capital in excess of par value, common stock $300,000$

Retained earnings $710,000$

Total stockholders$$ equity $ $1,710,000$