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The stockholders' equity section of Beta Corporation's balance sheet as of December 3 1 , 2 0 2 5 is as follows: Stockholders' Equity Common

The stockholders' equity section of Beta Corporation's balance sheet as of December 31,2025 is as follows:
Stockholders' Equity
Common stock, $5 par value; authorized, 2,000,000 shares;
issued, 600,000 shares $3,000,000
Paid-in capital in excess of par 850,000
Retained earnings 4,500,000
$8,350,000
The following events occurred during 2026:
1. Jan. 545,000 shares of common stock were sold for $8 per share.
2. Jan. 16 Declared a cash dividend of 20 cents per share, payable February 15 to stockholders of record
on February 5.
3. Feb. 2060,000 shares of authorized and unissued common stock were sold for $12 per share.
4. March 1 A 30% stock dividend was declared and issued. Fair value per share is currently $15.
5. April 1 A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per
share. Fair value on March 31 was $18 per share.
6. July 1 A 15% stock dividend was declared and issued. Fair value is currently $10 per share.
7. Aug. 1 A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of
record on August 21.
REQUIRED:
1. Record the journal entries on the following page.
2. Answer the following questions:
a. What is the number of common shares outstanding on December 31,2026?__________________
b. What is the balance in Retained Earnings on December 31,2026?__________________
________________________________________________________________________________________
Calculations:

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