Take me to the text On March 31, 2020, EFG Corporation's shareholders' equity section shows the following balances EFG Corporation Balance Sheet (partial) Shareholders' Equity Contributed Capital As at March 31, 2020 Common shares, unlimited shares authorized, 31,000 shares issued and outstanding $186,000 Retained Earnings Total Shareholders' Equity $880,000 $1,066,000 Do not enter dollar signs or commas in the input boxes Scenario 1 On March 31, 2020, after preparing the shareholders equity section shown above, the company declared and immediately distributed a 60% stock dividend. The market price on the date of declaration was $9. The company recorded the stock dividends by debiting retained earnings a) Calculate the ending balance of retained earnings after the stock dividend. EFG Corporation Calculation of Retained Earnings For the Month Ended March 31, 2020 Opening Balance 880000 Less: Stock Dividend Balance March 31, 2020 768400 b) Prepare the shareholders' equity section of balance sheet as at March 31, 2020 (after the stock dividend has been distributed). EFG Corporation Balance Sheet (partial) As at March 31, 2020. Shareholders' Equity Contributed Capital Common shares, unlimited shares authorized, 49,600 shares issued and outstanding 297600 Retained Earnings Total Shareholders' Equity x 768400 10660001