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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, 84,000 shares issued and
outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 840,000
370,000
745,000
$ 1,955,000
(1) Prepare the updated stockholders' equity section after the distribution is made.
(2) Compute the number of shares outstanding after the distribution is made.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Prepare the updated stockholders' equity section after the distribution is made.
SHARPER CORPORATION
Stockholders' Equity Section of the Balance Sheet
June 30
Total stockholders' equity
< Required 1
Required 2 >