On March 31, 2020, EFG Corporation's shareholders' equity section shows the following balances. b) Prepare the shareholders' equity section of balance sheet as at March 31, 2020 (after the stock dividend has been distributed) EFG Corporation EFG Corporation Balance Sheet (partial) Balance Sheet (partial) As at March 31, 2020 As at March 31, 2020 Shareholders' Equity Contributed Capital Common shares, unlimited shares authorized, 49,600 shares issued and outstanding Shareholders' Equity Contributed Capital Common shares, unlimited shares authorized, 31,000 shares issued and outstanding Retained Earnings Total Shareholders' Equity $186,000 Retained Earnings $880,000 $1,066,000 Total Shareholders' Equity Scenario 2 Do not enter dollar signs or commas in the input boxes. On March 31, 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 balance sheet. Scenario 1 a) Calculate the number of outstanding shares. On March 31, 2020, after preparing the shareholders' equity section shown above, the company declared and immediately distributed a 60% stock dividend. The market price on the date of declaration was $9. The company recorded the stock dividends by debiting retained earnings. Outstanding shares: shares b) Prepare the shareholders' equity section of the balance sheet as at March 31, 2020 (after the stock split). a) Calculate the ending balance of retained earnings after the stock dividend. EFG Corporation Balance Sheet (partial) EFG Corporation Calculation of Retained Earnings As at March 31, 2020 For the Month Ended March 31, 2020 Shareholders' Equity Contributed Capital Opening Balance 880000 Common shares, unlimited shares authorized, x shares issued and outstanding Less: Stock Dividend X Retained Earnings Balance - March 31, 2020 Total Shareholders' Equity