On May 21, 2020, NOP Corporation's shareholders' equity section shows the following balances. NOP Corporation Balance Sheet (partial) As at May 31, 2020 Shareholders' Equity Contributed Capital Common shares, unlimited shares outhorized, 29,000 shares issued and outstanding $116,000 Retained Earnings $640,000 Tatal Shareholders' Equity $75,000 Do not enter dollar signs or commas in the input boxes Scenario 1 On May 31, 2020, after preparing the shareholders' equity section shown above, the company declared and immediately distributed a 80% stock dividend. The market price on the date of declaration was $7. The company recorded the stock dividends by debiting retained earnings a) Calculate the ending balance of retained earnings after the stock dividend NOP Corporation Calculation of Retained Earnings For the Month Ended May 31, 2020 Opening Balance 640000 Lass: Stock Dividend Balance - May 31, 2020 b) Prepare the shareholders' equity section of balance sheet os at May 31, 2020 (after the stock dividend has been distributed). NOP Corporation Balance Sheet (partial) As at May 31, 2020 Shareholders' Equity Contributed Capital Comman shares, unlimited shares authorised, 52,200 shares issues and outstanding Retained Earnings Tatal Shareholders' Equity 756000 Scenario 2 On May 31, 2020, after preparing the shareholders' equity section shown at the beginning of this question (excluding Scenario 1), the company implemented a 3-for-1 stock split. For this scenario, assume that the stock dividend in scenario 1 did not happen; consider anly the original balance sheet a) Calculate the number of outstanding shares. Outstanding shares Shares b) Prepare the shareholders' equity section of the balance sheet as at May 21, 2020 (after the stock split) b) Prepare the shareholders' equity section of the balance sheet as at May 31, 2020 (after the stock split). NOP Corporation Balance Sheet (partial) As at May 31, 2020 Shareholders' Equity Contributed Capital Common shares, unlimited shares authorized, x shares issued and outstanding 116000 Retained Earnings 640000 Total Shareholders' Equity 756000