Stockholder's equity: On March 1, Pluto Corporation declared and issued a 10% stock dividend on its 200,000

Problem 4: Stockholders Equity On March 1, Pluto Corporation declared and issued a 10% stock dividend on its 200,000 outstanding shares of $3 par value common stock. On September 1, Pluto declared a 3 -for -1 stock slit and changed its par value accordingly. The market value of Pluto's stock was $20 per share on March 1 and $24 per share on September 1. On February 28, Pluto's stockholders' equity appeared as follows: Stockholders Equity February 28: Common stock (200,000 $3 par shares issued $600,000 Paid -in capital in excess of par 1,800,000 Contributed capital 2,400,000 Retained earnings 1,600,000 Total Stockholders equity $4,000,000 Required: In the space below prepare, in good form, the stockholders' equity section after the stock split. No partial credit will be awarded without detailed computations. Stockholders' Equity September 1