Charles Corporation currently has 250,000 shares of $1 par value common stock authorized with 100,000 shares outstanding. The board of directors declared a 2-for-1 split on May 15, 2014, when the market value of the common stock was $2.50 per share. The retained earnings balance on May 15 was $350,000. Additional paid-in capital on this date was $10,000. Prepare the stockholders’ equity section of the company’s balance sheet before and after the stock split. What entry, if any, would be necessary to record the stock split?