Scenario 2 As a separate scenario from Scenario 1, the company implemented a 4-for-1 stock split. a) Calculate the number of outstanding shares. Outstanding shares: shares b) Prepare the stockholders' equity section of the balance sheet as at June 30, 2018 (after the stock split has been completed). Clayton Corporation Balance Sheet (Partial) As at June 30, 2018 Stockholders' Equity Common stock, no par value, unlimited shares authorized, xxx shares issued and outstanding Retained Earnings Total Stockholders' Equity answered Marked out of 1000 Paid-In Capital $410,000 Common stock, no par value, unlimited shares authorized 33,000 shares issued and outstanding $730,000 Retained Earnings Total Stockholders' Equity $1,140,000 P Flag Question Do not enter dollar signs or commas in the input boxes. Scenario 1 The company declared and immediately distributed a 45% stock dividend. Current market price was $12. The company recorded the stock dividend by debiting Retained Earnings. a) Calculate the balance of retained earnings after the stock dividend. Clayton Corporation Statement of Retained Earnings For the Month Ended June 30, 2018 Opening Balance Less: Stock Dividend Balance - June 30, 2018 b) Prepare the stockholders' equity section of balance sheet as at June 30, 2018 (after the stock dividend has been distributed) b) Prepare the stockholders' equity section of balance sheet as at June 30, 2018 (after the stock dividend has been distributed). Clayton Corporation Balance Sheet (Partial) As at June 30, 2018 Stockholders' Equity Common stock, no par value, unlimited shares authorized 47,850 shares issued and outstanding Retained Earnings Total Stockholders' Equity