Question 8 (14 points) Listen The Shareholder's Equity section of Flanagan Corporation's latest annual financial statements looks like this: Shareholder's Equity Common stock 150,000 Shares Retained earnings 250,000 400,000 $ 650,000 The firm has earnings per share in the latest year of $0.60 and a price-earnings ratio of 25 times. Paragraph Required: (Treat each of the following as independent questions.) A. Show the effect on the equity account(s) of a two-for-one stock split Shareholder's Equity shares Retained earnings Common stock