Stock Dividends and Stock Splits

Whitacre Company's Stockholders' Equity section of the balance sheet on December 31, 2015, was as follows:

Common stock, $10 par value, 60,000 shares	$600,000
issued and outstanding
Additional paid-in capital	480,000
Retained earnings	1,240,000
Total stockholders equity	$2,320,000

On May 1, 2016, Whitacre declared and issued a 15% stock dividend, when the stock was selling for $20 per share. Then on November 1, it declared and issued a 2-for-1 stock split.

Required:

1. How many shares of stock are outstanding at year-end?

____________ shares

2. What is the par value per share of these shares?

$____________ per share

3. Develop the Stockholders' Equity category of Whitacre's balance sheet as of December 31, 2016.