Netfix Check my work mode : This shows what is correct or incorrect for the work
ID: 2544800 • Letter: N
Question
Netfix Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate comp 3 On June 30, 2017, Sharper Corporation's common stock is priced at $62 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appears as follows. points Comnon stock-$i0 par value, 120,000 share authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common atock Retained earnings Total stoekholders equitY 500,000 200,000 660.000 $1,360,000 1. Assume that the company declares and immediately distributes a 50% stock dividend. This event is recorded by capitalizing retained earnings equal to the stock's par value. Answer these questions about stockholders equity as it exists after issuing the new shares a.b.& c. Complete the below table to calculate the retained earnings balance, total stockholders' equity and number of outstanding shares 2. Assume that the company implements a 3-for-2 stock split instead of the stock dividend in part 1. Answer these questions about stockholders equity as it exists after issuing the new shares a.b& c. Complete the below table to cakculate the retained earnings balance, total stockholders' equity and number of outstanding shares. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1Required 2 Assume that the company implements a 3-for-2 stock split instead of the stock dividand in required 1. Answer these questions about stockholders' equity as it exists after issuing the new shares. Complete the below table to calculate the retained earnings balance, total stockholders equity and number of outstanding shares Before Impact of After Stock $12,000 Split 256.000 Prev 3016 Next >Explanation / Answer
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Stock Dividend Before Stock Dividend Impact of Stock Dividend After Stock Dividend Common stock $500,000 250,000 $750,000 Paid in capital in excess of par value 200,000 200,000 Total contributed capital 700,000 250,000 950,000 Retained earnings 660,000 (250,000) 410,000 Total stockholders' equity $1,360,000 0 $1,360,000 Number of common shares outstanding 50,000 25,000 75,000