Required information

Use the following information for the exercises below. (Algo)

[The following information applies to the questions displayed below.] On June 30, Sharper Corporations stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend.

Common stock$10 par value, 76,000 shares issued and outstanding	$ 760,000
Paid-in capital in excess of par value, common stock	330,000
Retained earnings	725,000
Total stockholders equity	$ 1,815,000

Exercise 13-8 (Algo) Large stock dividend LO P2

(1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made.

Exercise 13-9 (Algo) Stock split LO P2 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split.