Refer to the information in Exercise 13-8. Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. After the split,
(1) Prepare the updated stockholders’ equity section and
(2) Compute the number of shares outstanding
Data From Exercise 13-8
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. After the distribution is made,
(1) Prepare the updated stockholders’ equity section and
(2) Compute the number of shares outstanding.
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