On June 30, 2020, EFG Corporation's shareholders' equity section shows the following balances. EFG Corporation Balance Sheet (partial) As at June 30, 2020 Shareholders' Equity Contributed Capital Common shares, unlimited shares authorized, 28,000 shares issued and outstanding $112,000 Retained Earnings $880,000 Total Shareholders' Equity $992,000 Do not enter dollar signs or commas in the input boxes. Scenario 1 On June 30, 2020, after preparing the shareholders' equity section shown above, the company declared and immediately distributed a 90% stock dividend. The market price on the date of 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. EFG Corporation Calculation of Retained Earnings For the Month Ended June 30, 2020 Opening Balance 880000 Less: Stock Dividend 151200 Balance - June 30, 2020 728800 b) Prepare the shareholders' equity section of balance sheet as at June 30, 2020 (after the stock dividend has been distributed). EFG Corporation Balance Sheet (partial) As at June 30, 2020 Shareholders' Equity Contributed Capital Common shares, unlimited shares authorized, 53,200 shares issued and outstanding Retained Earnings Total Shareholders' Equity 992000 Scenario 2 On June 30, 2020, after preparing the shareholders' equity section shown at the beginning of this question (excluding Scenario 1), the company implemented a 4-for-1 stock split. For this scenario, assume that the stock dividend in scenario 1 did not happen; consider only the original bal sheet. a) Calculate the number of outstanding shares. Outstanding shares: shares