Required Information

Use the following Information for the Exerclses $8-9$ below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

On June $30,$ Sharper Corporation's 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, $70,000$ shares issued and outstanding

Paid$-$in capital in excess of par value, common stock Retained earnings

Total stockholders' equity

$[$$$700,000],[300,000],[710,000],[$$$1,710,000]$

Exercise $13-9($Algo$)$ Stock split LO P$2$

Assume that Instead of distributing a stock dividend, Sharper did a $3-$for$-1$ stock split.

$(1)$ Prepare the updated stockholders' equlty section after the split.

$(2)$ Compute the number of shares outstanding after the split.

Complete this question by entering your answers in the tabs below.

Prepare the updated stockholders' equity section after the split.

$\backslash$table$[[$SHARPER CORPORATION$],[$Stockholders$\text{'}$ Equity Section of the Balance Sheet,$],[,],[,],[,],[,],[$Tolal stockholders' equity,$