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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
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, 50,000 shares issued and outstanding $ 500,000 Paid-in capital in excess of par value, common stock 200,000 Retained earnings 660,000 Total stockholders equity $ 1,360,000 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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