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On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Assume Sharper issues
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Assume Sharper issues a 3-for-1 stock split. Common stock $10 par value, 50,000 shares issued and outstanding $620,000 Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 260,000 690,000 $1,570,000 Number of common shares outstanding before the stock split Par value per share 62.000 $10 3 for 1 Stock split Required: (1) Compute the number of shares outstanding after the split, Number of common shares outstanding after the stock split Par value of shares after the stock solit (2) Prepare the updated stockholders' equity section after the split. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Common stock - $? par, 186,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $620,000 260,000 690.000 $1,570,000
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