Halifax Metal Products Ltd. reported the following shareholders’ equity at October 31, 2020:

Common shares, unlimited shares authorized, ............... 60,000
shares issued and outstanding ...................................... $150,000
Retained earnings .............................................................. 450,000
Total shareholders’ equity ............................................... $600,000

On November 14, 2020, Halifax Metal Products Ltd. split its common shares 2 for 1.

Required

1. Make the memorandum entry to record the stock split.

2. Prepare the shareholders’ equity section of the balance sheet immediately after the split.