On June 30, 2011, Quinn Corporations common stock is priced at $31 per share before any stock dividend or split, and the stockholders equity section of its balance sheet appears as follows.

Common stock$10 par value, 60,000 shares authorized, 25,000 shares issued and outstanding	$	250,000
Paid-in capital in excess of par value, common stock		100,000
Retained earnings		330,000
Total stockholders equity	$	680,000

Assume that the company declares and immediately distributes a 100% stock dividend. This event is recorded by capitalizing retained earnings equal to the stocks par value. Answer these questions about stockholders equity as it exists after issuing the new shares.

1a.	What is the retained earnings balance? (Omit the "$" sign in your response.)

Retained earnings after dividend

$

1b.	What is the amount of total stockholders equity? (Omit the "$" sign in your response.)

Total stockholder's equity

$

1c.	How many shares are outstanding?

Outstanding shares after the dividend

Assume that the company implements a 2-for-1 stock split instead of the stock dividend in part 1. Answer these questions about stockholders equity as it exists after issuing the new shares.

2a.	What is the retained earnings balance? (Omit the "$" sign in your response.)

Retained earnings after the stock split

$

2b.	What is the amount of total stockholders equity? (Omit the "$" sign in your response.)

Total stockholder's equity

$

2c.	How many shares are outstanding?

Outstanding shares after the stock split