Reference no: EM133110252
Question - On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend.
Common stock-$10 par value, 120,000 shares authorized, 78,000 shares issued and outstanding $780,000
Paid-in capital in excess of par value, common stock 340,000
Retained earnings 730,000
Total stockholders ' equity $1,850,000
Required -
(1) Prepare the updated stockholders' equity section after the distribution is made.
(2) Compute the number of shares outstanding after the distribution is made.
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