Use the following information for the Exercises 8-9 below. (Algo) [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any split. Common stock-$10 par value, 88,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 880,000 390,000 755,000 $ 2,025,000 Exercise 11-9 (Algo) Stock split LO P2 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. (1) Prepare the updated stockholders' equity section after the split. The Common Stock line on the stockholders' equity section should state the par value after the split to be l (2) Compute the number of shares outstanding after the split. Required 1 Required 2 Prepare the updated stockholders' equity section after the split. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Total stockholders' equity Required 1 Required 2 Compute the number of shares outstanding after the split. Number of common shares outstanding