Required Information 2 00:57:56 The following information applies to the questions displayed below.] Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 475,000 shares of $15 par value common stock. As of December 31, Year 3, Gilligan's stockholders' equity accounts report the following balances: Common stock, $15 par, 475,000 shares authorized, 47,500 shares issued and outstanding Paid-in capital in excess of par - Common $712,500 95.000 Retained earnings Total stockholders' Equity $ 307,500 1,620,000 $2,427,500 At the end of Year 3, Gilligan decides to issue a 10% stock dividend. At the time of issue, the market price of the stock was $21 per share. What is the number of shares outstanding after the stock dividend is issued? 47.500 479750